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#17 A local club plans to invest $10000 to host a baseball game. They expect to sell tickets worth $14759. But if it rains on the day of game, they won't sell any tickets and the club will lose all the money invested. If the weather forecast for the day of game is 20% possibility of rain, what is the expected value of investing in the baseball game? Probability Leave money in bank Invest in Baseball game Submit Answer format: Number: Round to: 1 decimal places. Rain 0.2 No Rain 10000 10000 0 14759 unanswered not_submitted Attempts Remaining: 2 #18 At the carnival, we found a bean bag toss booth. There's a 0.64 probability of throwing the bean bag into the outer ring, a 0.11 probability of throwing it into the middle ring, and the remaining probability throwing it into the center of the target. Tickets are awarded depending on which ring the bean bag lands in. We get 1 ticket for the outer ring, 2 tickets for the middle ring, and 3 tickets for the center. What is the expected value (number of tickets) we will get if we play the game 10 times? unanswered not_submitted Attempts Remaining: 2 Outer Ring Middle Ring Center Ring Probability 0.11 0.64 Tickets 1 2 3 Submit Answer format: Number: Round to: 1 decimal places.

#17 A local club plans to invest $10000 to host a baseball game. They expect to sell tickets worth $14759. But if it rains on the day of game, they won't sell any tickets and the club will lose all the money invested. If the weather forecast for the day of game is 20% possibility of rain, what is the expected value of investing in the baseball game? Probability Leave money in bank Invest in Baseball game Submit Answer format: Number: Round to: 1 decimal places. Rain 0.2 No Rain 10000 10000 0 14759 unanswered not_submitted Attempts Remaining: 2 #18 At the carnival, we found a bean bag toss booth. There's a 0.64 probability of throwing the bean bag into the outer ring, a 0.11 probability of throwing it into the middle ring, and the remaining probability throwing it into the center of the target. Tickets are awarded depending on which ring the bean bag lands in. We get 1 ticket for the outer ring, 2 tickets for the middle ring, and 3 tickets for the center. What is the expected value (number of tickets) we will get if we play the game 10 times? unanswered not_submitted Attempts Remaining: 2 Outer Ring Middle Ring Center Ring Probability 0.11 0.64 Tickets 1 2 3 Submit Answer format: Number: Round to: 1 decimal places.

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter17: Financial Markets
Section: Chapter Questions
Problem 5SCQ: Investors sometimes fear that a high-risk investment is especially likely to have low returns. Is...
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#17 A local club plans to invest $10000 to host a baseball game. They expect to sell tickets worth $14759. But if it rains on the day of game, they won't sell any tickets and the club will lose all the money invested. If the weather forecast for the day of game is 20% possibility of rain, what is the expected value of investing in the baseball game? Probability Leave money in bank Invest in Baseball game Submit Answer format: Number: Round to: 1 decimal places. Rain 0.2 No Rain 10000 10000 0 14759 unanswered not_submitted Attempts Remaining: 2 #18 At the carnival, we found a bean bag toss booth. There's a 0.64 probability of throwing the bean bag into the outer ring, a 0.11 probability of throwing it into the middle ring, and the remaining probability throwing it into the center of the target. Tickets are awarded depending on which ring the bean bag lands in. We get 1 ticket for the outer ring, 2 tickets for the middle ring, and 3 tickets for the center. What is the expected value (number of tickets) we will get if we play the game 10 times? unanswered not_submitted Attempts Remaining: 2 Outer Ring Middle Ring Center Ring Probability 0.11 0.64 Tickets 1 2 3 Submit Answer format: Number: Round to: 1 decimal places.
Transcribed Image Text:#17 A local club plans to invest $10000 to host a baseball game. They expect to sell tickets worth $14759. But if it rains on the day of game, they won't sell any tickets and the club will lose all the money invested. If the weather forecast for the day of game is 20% possibility of rain, what is the expected value of investing in the baseball game? Probability Leave money in bank Invest in Baseball game Submit Answer format: Number: Round to: 1 decimal places. Rain 0.2 No Rain 10000 10000 0 14759 unanswered not_submitted Attempts Remaining: 2 #18 At the carnival, we found a bean bag toss booth. There's a 0.64 probability of throwing the bean bag into the outer ring, a 0.11 probability of throwing it into the middle ring, and the remaining probability throwing it into the center of the target. Tickets are awarded depending on which ring the bean bag lands in. We get 1 ticket for the outer ring, 2 tickets for the middle ring, and 3 tickets for the center. What is the expected value (number of tickets) we will get if we play the game 10 times? unanswered not_submitted Attempts Remaining: 2 Outer Ring Middle Ring Center Ring Probability 0.11 0.64 Tickets 1 2 3 Submit Answer format: Number: Round to: 1 decimal places.
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