> You have a dice (1-6). Some guy offers to pay you whatever you roll. What are you willing to pay to play this game? The thing that would trip me up there is

> You have a dice (1-6). Some guy offers to pay you whatever you roll. What are you willing to pay to play this game? The thing that would trip me up there is the "what are you willing to pay[?]" part. Instead of just interpreting it as "what is the EV of a fair six-sided die roll?", I start thinking about complicating factors immediately: * utility function (I wouldn't pay the EV to play as I'd want to expect a profit - if you asked for the break even point/most you would be willing to pay, you would probably get a quicker answer) * Why pay? He's already offered to pay me :p * Do I know it is a fair die? * How much money do I have? * How many times will the guy pay out? Once, infinitely, or stop after some arbitary/unknown amount? I'd hope that someone with a related degree would at least have a similar sort of discussion (or offer the EV as the answer initially then have some sort of discussion), but I can see why some people who 'should' know the answer might be tripped up by it.