Probability dice and payoff

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Reference no: EM13122383

Probability : Dice and Payoff
Suppose you roll two fair dice
a)what are the odds in favor of rolling a sum of 10?
b) what are the odds against rolling a sum of 7 or 11?
c) in part a, if you bet one dollar that a sum of 10 will turn up, what should the house pay (plus returning your one dollar bet) if a sum of 10 turns up for the game to be fair?

Reference no: EM13122383

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