A Game Involving a Pair of Dice Pays You $4

question 4

Multiple Choice

A game involving a pair of dice pays you $4 with probability 16/36, costs you $2 with probability 14/36, and costs you $6 with probability 6/36.
If you play this game many times, in the long run how will your actual average gain per play compare with your answer to the previous question?

• A) smaller
• B) bigger
• C) about the same
• D) The question can't be answered.

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Definitions:

Replication Studies

Research efforts designed to repeat the methodology of a previous study to see if similar results can be produced.

Correlation

A statistical measure that expresses the extent to which two variables fluctuate together, indicating the strength and direction of their relationship.

Reliable

Capable of being trusted or depended upon; consistent in performance or outcome.

Correlation Coefficient

A numerical indicator showing the degree to which multiple variables co-vary.