Mathematics, 19.03.2020 06:50, linnybear300

Suppose a casino invents a new game that you must pay $250 to play. The game works like this: The casino drawsrandom numbers between 0 and 1from a uniform distribution. It adds them together until their sum is greater than 1, at which time it stops drawing new numbers. You get a payout of $100 each time a new number is drawn. For example, suppose the casino draws 0.4 and then 0.7. Since the sum is greater than 1, it will stop after these two draws, and you receive $200. If instead it draws 0.2, 0.3, 0.3, and then 0.6, it will stop after the fourth draw and you will receive $400. Given the $250 entrance fee, should you play the game?

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Suppose a casino invents a new game that you must pay $250 to play. The game works like this: The ca...