Suppose there is a game in which you roll a fair, 6-sided die and win dollars equal to the outcome of the roll. How much would you expect to win on average?

Suppose, if you don’t like the outcome of the roll, you can reroll the die once, and win dollars equal to the outcome of the 2nd roll (once you choose to reroll, you can no longer go back to the 1st roll). How much would you expect to win on average?

Suppose, if you don’t like the outcome of the 2nd roll, you can reroll the die once more, and win dollars equal to the outcome of the 3rd roll (once you choose to reroll, you can no longer go back to previous rolls). How much would you expect to win on average?

This was an actual brain teaser question once asked at Jane Street for an interview for an intern role.

Continue reading “Reroll the Die”