Elementary Statistics: A Step-by-Step Approach with Formula Card 9th Edition

Published by McGraw-Hill Education
ISBN 10: 0078136334
ISBN 13: 978-0-07813-633-7

Chapter 5 - Discrete Probability Distributions - Review Exercises - Section 5-2 - Page 305: 14


4.92 dollars

Work Step by Step

Refer to the answer of Exercise 13, the expect value to win is now $\frac{3}{13}\times10-\frac{1}{13}\times20+\frac{1}{13}\times(2+3+4+5+6+7+8+9+10)=64/13=4.92$ So an amount of 4.92 dollars should be charged for the game to be fair.
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