Suppose that you roll two dice. You will be paid $5 if you roll a double. You will not receive anything for any other outcome. How much should you be willing to pay for the privilege of rolling the dice?
A) $0.69
B) $0.14
C) $0.28
D) $0.83
E) $5.00

Question

Suppose that you roll two dice. You will be paid $5 if you roll a double. You will not receive anything for any other outcome. How much should you be willing to pay for the privilege of rolling the dice? ​
A) $0.69
B) $0.14
C) $0.28
D) $0.83
E) $5.00

Quizplus · Accepted Answer

The Answer of Suppose that you roll two dice. You will be paid $5 if you roll a double. You will not receive anything for any other outcome. How much should you be willing to pay for the privilege of rolling the dice? ​
A) $0.69
B) $0.14
C) $0.28
D) $0.83
E) $5.00

Suppose That You Roll Two Dice