With one die, suppose in a round, you earn the amount of dollarsequal to the val

Question

With one die, suppose in a round, you earn the amount of dollarsequal to the value of the upwards face of the die. (eg. you earn $6if you roll a six.) Now also suppose after your first roll, you aregiven the opportunity to cancel your first and roll again, takingthat value as the final value. What strategy should you use?
I would appreciate details on how to work out this problem, asI can't reach a logical way to do it.
I would appreciate details on how to work out this problem, asI can't reach a logical way to do it.

Explanation / Answer

Expected value is 6+5+4+3+2+1 / 6 =21/6 = $3.5 If the average is $3.5, and you got less, then go again. Decline 1,2,3, accept 4,5,6

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