Paid only if the last roll wins
You roll a fair die three times. You are paid the value of the third roll in dollars, but only if it is strictly greater than both of the first two rolls; otherwise you get nothing. What is the expected payout? Give a decimal to two places.
Show hints (2)+
- Condition on the third roll : you're paid only if both earlier rolls are below .
- That has probability , so sum .
Answer
Reveal answer →Final answer
1.3 (± 0.01)
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