7. Fernando is trying to decide which of 2 roulette games to play at a casino, where eachroulette has 30 slots. Each game, Fernando wants to bet on a single slot. In the firstroulette game Fernando has to invest $5 to play, if he wins he gets his investment backplus $1000, if he loses, he loses his investment. In the second roulette game, he invest$1 to play, if he wins he gets his investment back plus $200 and if he loses, he loses hisinvestment. Calculate the expected value of the net gain for each roulette game and assumethat Fernando will go with the game that gives him the higher value.

Question 07)There are 2 roulette games. The total number of possible slots is 30.The number of…

Answered: 7. Fernando is trying to decide which…

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 board game Dominion is a card-drafting game where the player with the most victory points wins. You are playing Dominion with a group of friends, and are on the last turn. The only two remaining cards that you can purchase are Duchies and Dukes. Each Duchy is worth 3 victory points and costs 5 gold. Each Duke gives you 1 victory point per Duchy in your possession, and also costs 5 gold. Assuming you have N gold and can purchase as many cards as you like, how many Dukes and Duchies should you buy to maximize your victory points?
XYZ company has designed a new lottery scratch-off game. The player is instructed to scratch off one spot: A, B, or C. A can reveal "loser," "win $1," or "win $50." B can reveal "loser" or "take a second chance." C can reveal "loser," or "win $500." On the second chance, the player is instructed to scratch off D or E. D can reveal "loser" or "win $1." E can reveal "loser" or "win $10." The probabilities at A are 0.9, 0.09, and 0.01 respectively. The probabilities at B are 0.8 and 0.2. The probabilities at Care 0.999 and 0.001. The probabilities at D are 0.95 and 0.05. The probabilities at E are 0.5 and 0.5. Calculate the expected value of the game and provide recommendations to a decision-maker
At a county fair, you pay $2 to play the following game: You are given a fair coin, and two bags standin front of you, labelled Bag A and Bag B. You flip a coin: If your coin lands Heads, you pick a ballfrom Bag A. If your coin lands tails, you pick a ball from Bag B. Each ball has a dollar value written onit, and you win the number of dollars shown on the ball. • Bag A contains four (4) balls in total: Three (3) balls show $1, and one (1) ball shows $5.• Bag B contains three (3) balls in total: Two (2) balls show $2, and one (1) ball shows $3.You WIN money if you leave with more money than you started with. You LOSE money if you leavewith less money than you started with. You BREAK EVEN if you leave with the same money that youstarted with.Let H denote the event that you flip heads, T denote the event that you flip tails, W the event that youwin, and L the event that you lose.(i) You pay to play exactly one game. What is the probability that you WIN given thatyou flipped a Heads?(ii)…
What is the answer to the letter c? If it is geomcdf, what are the lowerbound and upperbound if you solve it using a calculator?
I have 7 friends, 2 tickets to the concert of the century, and I can’t go!I could give the tickets to friend #1 and #2, or #1 and #3, etc. How many different options are there? I've decided to make them vie for the tickets using a single elimination knock-out ping pong tournament. How many matches will I need to have?
Johns friends give him a chance to choose an envelope out of three exactly same envelopes. John cannot see what's inside envelopes but he knows that one envelope contains a concert ticket and the other two contain postage stamps. After choosing the envelope but before opening it, John's friends open one of the other two envelopes revealing a postage stamp. Then, the friends give John an option to trade his box with the other unopened box. Should John swtich?
Consider the game of Let’s Make a Deal in which there are three doors (numbered 1, 2, 3), one of which has a car behind it and two of which are empty (have “prizes”). You initially select Door 1, then, before it is opened, Monty Hall tells you that Door 3 is empty (has a prize). You are then given the option to switch your selection from Door 1 to the unopened Door 2.
At a back-to-school party, one of your friends lets you play a two-stage game where you pay $3 to play. The game works as follows: flip a fair coin, noting the side showing, and roll a fair standard 4-sided die (numbered 1–4), noting the number showing. If the die shows a 3 and the coin shows tails, then you win $22. If the coin shows heads and the die shows an even number, then you win $9. Otherwise, you do not win anything. Let X be your net winnings. (a) Create a probability distribution for X. Enter the possible values of X in ascending order from left to right. All probabilities should be exact. X P(X) (b) Compute your expected net winnings for the game. Round your answer to the nearest cent.
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In an organization, X has been assigned to collect all the accounting departments files from the file room. When he went to take the files, he saw that there is no department name on the files. Instead, the files were labelled as Government, International and Private Client. However, there are three departments (accounting, marketing and management) in that room. From the files, 30% from the accounting department and 50% from management. Now, he also knows that 34% accounting files, 16% marketing files and 25% management files are governmental. a. Therefore, he picks a governmental file, what is the probability that it belongs to the accounting department? b. Therefore, he picks a governmental file, what is the probability that it belongs to marketing department.

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