Quant Interview Question | JPMorgan Chase | Backward Induction

Dice Game with Three Rolls: Optimal Strategy and Expected Value Question: You play a game of rolling a 6-sided die: for each roll, you can get the face value or reroll it, and you can roll it three times at most. Suppose you are a rational person, how much would you pay for this game? Understanding the Problem This is a classic expected value optimization problem, where at each stage you decide whether to take your current roll or risk rerolling, with a maximum of three tries. The goal is to determine the expected payout if you follow the best possible strategy. Read here: https://dataloopr.com/blog/jpmorgan-c...