How much would you expect to have after the 4 weeks

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Reference no: EM133276615

Question: Every day for a 4 weeks, you have the choice of going into Room 1 or Room 2. In Room 1, you pay a $5 entry fee and you flip a coin. If you get heads, you get a $20 prize. If you flip tails, you have to pay $10. In Room 2, there is no entry fee and you roll one die. If you get a 1 or a 2, you get $1. If you roll a 3 or a 4, you get $2, and if you roll a 5 or a 6, you get $3. If you want to make as much money as possible by choosing the best strategy, how much would you expect to have after the 4 weeks (28 days) are over?

Reference no: EM133276615

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