A certain game involves tossing 3 fair coins, and it pays 21¢ for 3 heads, 9¢ for 2 heads, and 2¢ for 1 head. Is 9¢ a fair price to pay to play this game? That is, does the 9¢ cost to play make the game fair?.....The 9¢ cost to playa fair price to pay because the expected winnings are(Type an integer ory your answer.)isis not

Answered: Image /qna-images/answer/5d958f6c-c94b-40d5-9f3a-b6509110c8cd.jpg

Answered: A certain game involves tossing 3 fair…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Similar questions

You draw a card from a deck of 52 cards. If the card is a spade, you win $5, but if the card is not a spade you lose $2.What is your expected earning from this game?
A game has a 10 dollar buy in. You have 20% to win nothing, 20% to win 5 dollars, 30% to break even, and 30% to win 20 dollars. What is the games EV? 画

A pair of fair dice is rolled onoe, Suppose that you lose $7 if the dice sum to 5 and win $8 if the dice sum to 11 or 12. How much should you win or lose if any other number tums up in order for the game to be fair? To keep the game fair, you should (Do not round until the final answer. Then round to the nearest cent as needed.) if the dice sum to any other number
You are playing a card game. If you pull an Ace you win $71, if you pull the King of hearts you win $101, if you pull a jack or a queen you win $37, all other pulls you lose. What price should you be charged to make this a fair game? Round your answer to the nearest hundredth.
Six friends play poker, each starting with $5. All bets are in multiples of $0.10. How many ways are possible for the redistribution of the $30 after the night of poker?
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.
A new game is being introduced at the Hard Rock Cafe. A ball is spun around a wheel until it comes to rest in one of many spots. Whatever is listed in that spot will be the player's winnings. If the wheel has 7 spots labeled $1, 9 spots labeled $2, and 6 spots labeled $10, how much should a player expect to win on average? Round to the nearest cent.
2. You play a game in which 40% of the time you win $3 and 40% of the time you lose $5 and 20% of the time you win $1. Please show your work.
A charity sells 1000 tickets for a lottery to raise money. 10 tickets will be chosen at random to win prizes: 1 $100 prize, 2 $50 prizes, and 7 $10 prizes. The other tickets will win nothing. Suppose you buy 1 ticket. Let P(x) = probability of winning x dollars. Match the following questions to their answers: P($100) + P($50) + P($10) + P($0)=? Choose... Choose... What is the probability that you win exactly $50 1/100 1 What is the probability that you do not win anything? 1/500 99/100

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