QUESTION 85. Imagine playing a game for which the exact odds are known. You have two options.With Option A, you will win $36 for sure. With Option B, you have an 80% of winning$45, but a 20% chance of winning nothing. Which would you pick? (Circle one)Option A (Win $36 for sure)Option B (80% chance to win $45; 20% chance to win nothing)A Option A (Win $36 for sure)B. Option B (80% chance to win $45; 20% chance to win nothing)QUESTION 9LSou

If we choose option A The expected return is $36 If we choose option B The expected return…

Answered: 5. Imagine playing a game for which the…

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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The game of American roulette involves spinning a wheel with 38 slots: 18 red, 18 black, and 2 green. A ball is spun onto the wheel and will eventually land in a slot, where each slot has an equal chance of capturing the ball. Gamblers can place bets on red or black. If the ball lands on their color, they double their money. If it lands on another color, they lose their money. Suppose you bet $9 on red. What's the expected value and standard deviation of your winnings?
Your friend offers to place a bet with you. He will pay you $2 if your favorite sports team wins the game on Tuesday night. But you will pay him $3 if his team wins. Your team has an 55% chance of winning, whereas his only has a 45% chance. This bet is in your favor. True or False?
There is a game of chance called "Lightning Dice" at a charity carnival. It costs $2 to play. The player then rolls 4 dice. If the player rolls 3 or more sixes, then the player wins $30. Otherwise, the player wins nothing. How much can you expect to gain or lose if you play this game 68 times?
A restaurant will select 1 card from a bowl to win a free lunch. Jo puts 5 cards in the bowl. The bowl has 100 cards. What are the odds of Jo winning a free lunch? 1/5 1/10 1/20 1/500
A friend proposes a gamble to you. You roll 2 fair, six-sided dice, and add up the results of each die to find your total number. If your roll totals a 6 or 8, your friend pays you $30. If you roll any other total, you pay your friend $10. What is your expected payoff from playing this game 100 times?.
Suppose that you and a friend are playing cards and decide to make a bet. If you draw two clubs in succession from a standard deck of 52 cards without replacing the first card, you win $⁢40. Otherwise, you pay your friend $⁢10. If the same bet was made 25 times, how much would you expect to win or lose? Round your answer to the nearest cent, if necessary. Win: Lose:
A game involves drawing a single card from a standard deck. The player receives $10 for an ace, $5 for a king, and $1 for a red card that is neither an ace nor a king. Otherwise, the player receives nothing. If the cost of each draw is $2, should you play? Explain your answer mathematically.
One option in a roulette game is to bet $7 on red. (There are 18 red compartments, 18 black compartments, and two compartments that are neither red nor black.) If the ball lands on red, you get to keep the $7 you paid to play the game and you are awarded $7. If the ball lands elsewhere, you are awarded nothing and the $7 that you bet is collected. Complete parts (a) through (b) below. III a. What is the expected value for playing roulette if you bet $7 on red? $ (Round to the nearest cent.) b. What does this expected value mean? Choose the correct statement below. O A. This value represents the expected loss over the long run for each game played. OB. Over the long run, the player can exper to break even. OC. This value represents the expected win over the long run for each game played.
A casino game with cards takes $1 bets. Gamblers have a 46% chance to win back their bets plus $1, and they have a 54% chance of losing their bets. Can you evaluate the house edge for thisgame, if so please explain.

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