3. You set up a carnival booth at a local fundraising event. The game consists of rolling a giant 6- sided die. The die is fair, so each of the number 1, 2, 3, 4, 5, and 6 has an equal probability of coming up. Game participants pay $3 per roll. If a participant rolls a 6, they win a prize valuing $8. If a participant rolls a 1, they win a prize valuing $2.50. If they roll a 2, 3, 4, or 5, they win nothing. An average of 40 participants play the game each hour, and you run the carnival booth for 8 hours. Fill in the probability distribution table and then answer the questions. What are the expected earnings (expected value) per game participant? Roll 6 1 2, 3, 4, or 5 Earnings Probability How much money do you expect to earn overall?
3. You set up a carnival booth at a local fundraising event. The game consists of rolling a giant 6- sided die. The die is fair, so each of the number 1, 2, 3, 4, 5, and 6 has an equal probability of coming up. Game participants pay $3 per roll. If a participant rolls a 6, they win a prize valuing $8. If a participant rolls a 1, they win a prize valuing $2.50. If they roll a 2, 3, 4, or 5, they win nothing. An average of 40 participants play the game each hour, and you run the carnival booth for 8 hours. Fill in the probability distribution table and then answer the questions. What are the expected earnings (expected value) per game participant? Roll 6 1 2, 3, 4, or 5 Earnings Probability How much money do you expect to earn overall?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:3. You set up a carnival booth at a local fundraising event. The game consists of rolling a giant 6-
sided die. The die is fair, so each of the number 1, 2, 3, 4, 5, and 6 has an equal probability of
coming up. Game participants pay $3 per roll. If a participant rolls a 6, they win a prize valuing $8.
If a participant rolls a 1, they win a prize valuing $2.50. If they roll a 2, 3, 4, or 5, they win nothing.
An average of 40 participants play the game each hour, and you run the carnival booth for 8 hours.
Fill in the probability distribution table and then answer the questions.
What are the expected earnings
(expected value) per game participant?
Roll
6
1
2, 3, 4, or 5
Earnings
Probability
How much money do you expect to earn overall?
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