A die with 4 black faces and 2 white faces will be rolled 60 times. Before each roll you will be asked to predict which color (black or white) will show up once the die is rolled. You will be given one dollar for each correct prediction. Assume that you want to make as much money as possible. What strategy should you use in order to make as much money as possible by making the most correct predictions?

Question

Answer

Predict the more likely color (black) on most of the rolls but occasionally, after a long run of blacks, predict white.

Answer

Make predictions according to the frequency of occurrence (4 of 6 for black and 2 of 6 for white). That is, predict twice as many blacks as whites.

Answer

Predict the more likely color (black) on all of the 60 rolls.

Answer

Predict more black than white, but switching back and forth depending on “runs” of one color or the other.

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A die with 4 black faces and 2 white faces will be rolled 60 times. Before each ...

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