5. Tanya is considering playing a game at the fair. There are three different ones to choose from, and it costs $2 to play a game. The probabilities associated with the games are given in the table. a. Lose $2 Win $1 Win $4 Game 1 0.55 0.20 0.25 Game 2 0.15 0.35 0.50 Game 3 0.20 0.60 0.20 What is the expected value for playing each game? | b. If Tanya decides she will play the game, which game should she choose? Explain.

Elementary Geometry For College Students, 7e
7th Edition
ISBN:9781337614085
Author:Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.
ChapterP: Preliminary Concepts
SectionP.CT: Test
Problem 1CT
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5. Tanya is considering playing a game at the fair. There are three different ones to choose from, and
it costs $2 to play a game. The probabilities associated with the games are given in the table.
a.
Lose $2
Win $1
Win $4
Game 1
0.55
0.20
0.25
Game 2
0.15
0.35
0.50
Game 3
0.20
0.60
0.20
What is the expected value for playing each game? |
b. If Tanya decides she will play the game, which game should she choose? Explain.
Transcribed Image Text:5. Tanya is considering playing a game at the fair. There are three different ones to choose from, and it costs $2 to play a game. The probabilities associated with the games are given in the table. a. Lose $2 Win $1 Win $4 Game 1 0.55 0.20 0.25 Game 2 0.15 0.35 0.50 Game 3 0.20 0.60 0.20 What is the expected value for playing each game? | b. If Tanya decides she will play the game, which game should she choose? Explain.
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