Solution-Find the expected winnings for the given strategy

Find the expected winnings for the given strategy

Reference no: EM131682280

Question: A fair die is rolled some number of times. You can choose whether to stop after 1, 2, or 3 rolls, and your decision can be based on the values that have appeared so far. You receive the value shown on the last roll of the die, in dollars. What is your optimal strategy (to maximize your expected winnings)? Find the expected winnings for this strategy.

Reference no: EM131682280

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Find the expected winnings for the given strategy

Reference no: EM131682280

Reference no: EM131682280

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