You are at a Casino and have two dices to play with. You win $10 every time you roll a 5. If you play till you win and then stop, what is the expected payout

10$, with a probability of winning of just 11%

Explanation:

If you have two dices, you can get 36 possible different results, and there are 4 different combinations that can get you a 5:

Result in Dice #1 Result in Dice #2 Total on dice

1 4 5

2 3 5

3 2 5

4 1 5

The probability of getting a five is therefore 11% (4/36 = 0.11 = 11%).

The expected payout if you win is $10 because the question says that you will play till you win and then stop playing, however, the probablity of winning is low, 11%, and that must be taken into account.