Suppose That You Roll Two Dice

question 2

Short Answer

Suppose that you roll two dice. You will be paid $20 if you roll a double. You will not receive anything for any other outcome. How much should you be willing to pay for the privilege of rolling the dice? Please round your answer to the nearest cent.
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$__________

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Definitions:

Table Paper

Disposable paper used to cover examination tables in medical settings for hygiene purposes.

Dowel

A cylindrical rod, usually made of wood, metal, or plastic, used to reinforce joints or support shelves and other structures.

Fasting Process

The act of willingly abstaining from some or all food, drink, or both, for a period of time, often used for health, religious, or medical purposes.

Midnight

The middle of the night, specifically the transition time from one day to the next at 00:00 hours.