Isabel has a bag with 8 balls numbered 1 through 8. She is playing a gameof chance.This game is this: Isabel chooses one ball from the bag at random. Shewins si if the number 1 is selected, $2 if the number 2 is selected, $5 if thenumber 3 is selected, so if the number 4 is selected, s8 if the number 5 isselected, and $10 if the number 6 is selected. She loses $16 if 7 or 8 isselected.(a) Find the expected value of playing the game.dollars(b) What can Isabel expect in the long run, after playing the game many times?(She replaces the ball in the bag each time.)O Isabel can expect to gain money.She can expect to windollars per selection.O Isabel can expect to losemoney.She can expect to lose dollars per selection.O Isabel can expect to break even (neither gain nor lose money).XŚ?

Answered: Image /qna-images/answer/6c07c590-561e-4d8e-b1c9-89f2db998555.jpg

Answered: (a) Find the expected value of playing…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Play this game with a partner. The first player marks down 1, 2, 3, or 4 dots on a sheet of paper. The second player then adds to this by marking down 1, 2, 3, or 4 more dots. The first player to exceed a total of 30 loses the game. Can the first player or the second player devise a surefire winning strategy? Explain carefully. Which player can definitely devise a surefire winning strategy? Use the Show Work learning aid to provide related calculations and additional reasoning to support your answer. O A. None B. The second player OC. Both OD. The first player
The map below shows the percentage change in housing prices from June 2014 to June 2015 in each of nine regions (U.S. Census divisions).+ Pacific 7.68 Mountain 7.17 West North Central 3.91 West South Central 6.92 East North Central 4.51 East South Central 4.88 Middle Atlantic 1.72 South Atlantic 6.12 New England 3.18 by You are choosing a region of the country to move to. Let E be the event that the region you choose saw a increase in housing prices of 4% or more, and let F be the event that the region you choose is on the east coast. Describe the event of EU F in words. You choose a region that saw an increase in housing prices of 4% or more or is on the east coast. You choose a region that saw a increase in housing prices of 4% or more and is on the east coast. List the outcomes of E UF. OEUF = {Pacific, Mountain, South Atlantic} EUF = {East North Central, South Atlantic, West North Central, Mountain, Pacific} EUF = {New England, Middle Atlantic, East North Central} EUF = {East North…
Solve the problem. A survey revealed that 40% of people are entertained by reading books, 34% are entertained by watching TV, and 10% are entertained by both books and TV. What is the probability that a person will be entertained by either books or TV? Express the answer as a percentage. O 64% O 84% 10% O 74% ASUS f4 f5 f6 X f7 f8 f9 f10 f11 & 4. 5 7 8 9. Y U 1 图 %24
Analyze and solve the problem A fair six-sided die is tossed. It costs P100 to play this gambling game. You win P300 if the outcome is a perfect square number, but for all other outcomes, you lose your bet. What is the expected net winning?
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10 each and will sell 800 tickets. There is one $2,000 grand prize, three $400 second prizes, and sixteen $20 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. $ 5.6 Hint: Hint
You are playing a game of dice where it involves rolling three dice and betting on one of the six numbers that are on the dice. The game costs P80 to play. You win P160 if the number you bet appears on only one dice, P180 if on two dice and P320 if on all three. What is your expected profit from the game? Select one: O a.-P10.50 O b. P35.80 C. P23.25 d. P85.00 O e. -P63.25
Solve the problem. n The National Center for Health Statistics has found that there is a 0.41% chance that an American citizen will die from falling. What is the probability that you will not die from a fall? (Round to the nearest hundredth of a percent)
The candy wheel at the boardwalk gives away an $ 8 box of candy to a person who successfully guesses the correct location from the 32 possible spaces. If the wheel cost $2 to play , what is the expected value of the candy wheel at the boardwalk? Describe what the answer is telling you about the boardwalk game.
Let's play a game where I flip a coin. If the coin lands on Heads you win a $1, if it lands on Tails you lose a $1. I flip a coin 8 times and here is the results Tails Tails Tails Tails Tails Tails Tails Tails So you lost 8 times in a row and thus lose $8.00. Initial Post: Part1: Would you like to continue this game. Why or why not. Part 2: Calculate the P-value of getting 8 tails in a row assuming the coin is fair. Is it a big number or small?
Directions: Solve the given problem. Show your solutions. Of all the registered automobiles in Colorado, 8% fail the state emissions test. Twelve automobiles are elected at random to undergo an emissions test. a. Find the probability that exactly four of them fail the test. b. Find the probability that fewer than four of them fail the test. c. Find the probability that more than three of them fail the test.

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