If I were completely rational, something less than $3.50, since that's the average of $1 to $6 ?
Is that it? It does seem too simple, or otherwise the wording threw me off too.
Is that it? It does seem too simple, or otherwise the wording threw me off too.
I'm willing to pay $1, because the lowest amount I can win is $1, and I'd have a net loss of 0.
I'll take that hedge fund job now.
I think my answer would have been, especially without more data, to not play the game. After living in Vegas for a number of years I know that even though the house often provides favorable percentages, the house always wins in the end.
But with some more wording, this could be a clever brain teaser. Thanks for bringing it up.