1na 471 H TEET 2 I 1100% -eHNormal text1DELL)T1 3 I 1 1Arial141.▼***• Player A wins $4 if the sum is 5 or less•Player B wins $2 if the sum is 6, 7 or 8•Player C wins $4 if the sum is 9 or more.(a) Find the expected value for each player and explain its meaning.- 5 T11. Suppose new rules are set for the same game. Everyone pays $2 per roll. Two diceare rolled and the outcomes are summed. This time:164X O17 of 76:50 F2/27/202

Given Information: Two dice are rolled and the outcomes are summed. Player A wins $4 if the sum is 5…

Answered: 11. Suppose new rules are set for the…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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You are on a TV show. You have been asked to either play a dice game five times or accept a $120 bill. The dice game works like this: If you roll a 1 or 5, you win $50. If you roll a 4, you win $150. If you roll a 2, 3 or 6, you lose $30. Should you play the game? Answer yes or no. __________ Use expected values and decision theory to justify your answer. Please round the answer to two decimal places. Expected value of five games is $__________
In a bag there are 8 red balls, and 2 pink balls. You pay 3 dollars to draw 2 balls. If you draw 2 red balls you lose, if you draw a red and pink you win 8 dollars, and if you draw 2 pink you get 90 dollars. Find the expected value of this game and round you answer to the nearest cent.
Activity #4: PROBABILITY Read and analyze the problems, show your solution, and box the answer. 1. What would be the probability of a. picking a black card at random from a standard deck of 52 cards? b. picking a face card (i.e. a king, queen, or jack)? c. not picking a face card? 2. What is the probability of rolling, on a fair dice: a. a 3? b. an even number? c. zero? d. a number greater than 4? e. a number lying between 0 and 72 f. a multiple of 3 given that an even number was drawn? 3. A standard deck of playing cards is well shuffled and from it, you are given two cards. You can have 0, 1, or 2 aces: three possibilities altogether. So, the probability that you have two aces is equal to 1/3. What is flawed about this argument? 4. You shuffle a deck of playing card, and then start turning the cards one at a time. The first one is black. The second one is also a black card. So is the third, and this happens up to the 10th card. You start thinking, "the next one will likely be red!"…
An adventurous aardvark is a card shark and gambler. He offered to let you play in a game with him. To play you must pay him $2. If you pick a spade you win $9 what is the expected value for you if you play this game with the aardvark?
You pay $3.50 to play the following game:Each of two fair dice are numbered with 3 on one side, a 2 on two sides, and a 1 on three sides.The dice are rolled once and you are returned the dollar amount corresponding to the sum on thefaces. What is the expected earning from the game?
Your friend convinces you to play a game where you roll a standard die one time. It costs $5 to play the game. If you roll a 3 or a 4 you win $9. Any other roll wins nothing. 4. Find the expected value of this game.
A player pays 4 to play the following game The player tosses three fair coins and receives payoifs of 1 if he tosses no heads, 2 for one head, 3 for two heads, and 5 for three heads. What is the player's expected net winnings (or loss) for the game?
Chandler offers you the opportunity to play his $2 game where he shuffles four cards and you must pick the correct one. What is the expected profit per person if the prize is a $1.25 coke for the game?Single line text.
You toss a coin three times. If you toss heads exactly two times, you win $2. If you toss heads all three times, you win $8. Otherwise, you lose $3. What is the expected payout for one round of this game? Round your answer to the nearest cent. Enter an expected loss as a negative number.
A certain game involves tossing 3 fair coins, and it pays 11¢ for 3 heads, 7¢ for 2 heads, and 4e for 1 head. Is 7¢a fair price to pay to play this game? That is, does the 7¢ cost to play make the game fair? .... The 7¢ cost to play a fair price to pay because the expected winnings are (Type an integer or a fraction. Simplify your answer.)
Suppose it costs $29 to roll a pair of dice. You get paid 4 dollars times the sum of the numbers that appear on the dice. What is the expected payoff of the game? Is it a fair game? The expected payoff of the game is $? is it a fair game?
A certain game involves tossing 3 fair coins, and it pays 13¢ for 3 heads, 6¢ for 2 heads, and 2¢ for 1 head. Is 6¢ a fair price to pay to play this game? That is, does the 6¢ cost to play make the game fair? The 6¢ cost to play is not a fair price to pay because the expected winnings are (Type an integer or a fraction. Simplify your answer.) c.

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