A game is played using one fair 6-sided die. If the die is rolled and shows 2, the player wins $6.00. If the die shows any number other than 2, the player wins nothing. If there is a charge of $3.00 to play the game, what is the game's expected value?

A game is played using one fair 6-sided die. If the die is rolled and shows 2, the player wins $6.00. If the die shows any number other than 2, the player wins nothing. If there is a charge of $3.00 to play the game, what is the game's expected value?

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...

See similar textbooks

Related questions

Q: A game-show spinner has these odds of stopping on particular dollar values: 55% for $5, 20% for $50,…

A: Given data in the problem is $5-->55%$50-->20%$100-->15% $1000-->10%

Q: Tickets for a drawing are sold for $60 each. The holder of the winning ticket wins a cash prize of…

A: We have given, Tickets for a drawing are sold for $60 each. The holder of the winning ticket wins a…

Q: A game costs $10 to play. In the game, you roll three fair six-sided dice. If you roll one six, you…

A: Let x be the random variable for price won, then the probability distribution is given as: Number…

Q: Find the expected gain or loss per ticket for a raffle with a grand prize of $1,000. A total of 100…

A: Given data: Total tickets = 100 Tickets sold price = $20 Grand price = $1000 To find: Expected gain…

Q: An online gambling site offers a first prize of $45,000 and two second prizes of $10,000 each for…

A: Solution-: An online gambling site offers a first prize of $45,000 and two second prizes of $10,000…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: From the provided information, the total number of tickets they will sell = 700. So,

Q: At a local fair, a raffle is being held. There were 1,067 tickets were sold for $10 each. There is…

Q: Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is…

Q: In a bag there are 8 red balls, and 2 pink balls. You pay 9 dollars to draw 2 balls. If you draw…

A: The number of red balls are 8. The number of pink ball are 2. The number of ball can be drawn are 2.

Q: Suppose a local charity decides to raise money by raffling a quilt worth $300, a dinner for two…

A: Expected value: The expected value of a random variable is the sum of the possible values that the…

Q: A game consists of you rolling a die one time. If you roll a 1 or 2, you will $2. If you roll a 6,…

A: We will first find the Value of each outcome which will be Inflow-outflow We will get the value as

Q: In the game of Keno, what are the expected winnings if catching 1 number pays you $3 and catching 2…

A: In the game of Keno, what are the expected winnings if catching 1 number pays you $3 and catching 2…

Q: Suppose that you and a friend are playing cards and decide to make a bet. If your friend draws three…

A: Given information- We have given a standard deck of 52 cards. My friend draws three hearts in…

Q: A casino offers a game in which a player places a $3 bet on a 3 coming up on one roll of a six-sided…

A: Let X be the random variable denotes amount in dollars gained by the player in a game. If a 3 is…

Q: Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is…

A: There are 52 cards in standard deck. Out of 52 cards 13 are club cards. Two cards are drawn…

Q: Suppose random variables X and Y are conditionally independent given random variable Z, i.e. P(X,…

A: Given that, P(X, Y|Z) = P(X|Z)P(Y|Z) (a). Then P(Y/X,Z)= P(Y,X,Z)/P(X,Z) (X and Y are…

Q: A raffle offers a first prize of $400 and 3 second prizes of $80 each. One ticket costs $2, and 600…

A: Given information- No. of ticket = 600 P(wining $400) = 1/600 P(wining $80) = 3/600 Cost of ticket =…

Q: A game consists of rolling a die. If the die shows 6, the player wins $10. If the die shows a 3,4,5…

A: We first make a probability distribution outcome 1 2 3 4 5 6 winning amount (xi) 0 0 1 1 1 10…

Q: gambling game is set up so that the chance of winning is only 3%, but the payout is big: you can win…

A: Given that n=500 , p=3%=0.03 , q=1-p=1-0.03=0.97

Q: You play a gambling game with a friend in which you roll a die. If a 1 or 2 comes up, you win $5.…

A: Given that, When a die is rolled then, If a 1 or 2 comes up, you win $5 otherwise you lose $4

Q: A game-show spinner has these odds of stopping on particular dollar values: 55% for $5, 20% for…

A: The odds of player wining $500 is 15% and the odds of player wining $1,000 is 10%.

Q: Consider a game in which a fair die is rolled. If the die comes up 1, the player wins $4. If the die…

A: Expected amount is mean of the distribution So we need to create a probability distribution table…

Q: A person pays $5 to draw a card. if I heart is drawn the player wins $1 if it spade is drawn, the…

A: In a set of playing cards, there are total 52 cards and among which 13 are hearts. So the…

Q: -What is the expected gain from this game?

A: here total 52 cards in deck total face cards = 12( J,Q,K of each suit) total ace = 4 probability =…

Q: Solve the problem that involves computing expected values in a game of chance. A game is played…

A: It is given that if the rolled die shows a 6, the player wins $8, other than 6 the player wins…

Q: In a bag, there are 8 red balls, and 2 pink balls. You pay 5 dollars to draw 2 balls. If you draw…

A: In a bag, there are 8 red balls, and 2 pink balls Total = 10 We also have to pay $5 to play the…

Q: In a new card game, you start by paying $40.6. From a well-shuffled full deck of cards draw 3 cards…

A: From the provided information,Game cost = $40.6If we draw 3 heart, we win $146.If we draw 3 black…

Q: The Cyclones play Baylor on Tuesday. If the odds for the Cyclones winning are 7:2, what is the…

A: The odds for the Cyclones winning are 7:2

Q: A game is played using one die. If the die is rolled and shows a 4, the player wins $9. If the die…

Q: a conviecnce store has made up 20 grab bag gifts and is offering them for $2 a bag. ten bags contaon…

Q: Suppose you are invited to play a game in which you bet $1 on any number from 000 to 299. If your…

Q: A game has an expected value to you of $400. It costs $400 to play, but if you win you receive…

A: Given Information : A game has an expected value to you of $400. It costs $400 to play, but if…

Q: What is the expected value of your bet

A: here given, you and a friend are playing cards and decide to make a bet. If you draw two clubs in…

Question

A game is played using one fair 6-sided die. If the die is rolled and shows 2, the player wins $6.00. If the die shows any number other than 2, the player wins nothing.

If there is a charge of $3.00 to play the game, what is the game's expected value?

Video Video

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

Find the expected payback for a game in which you bet $6 on any number from 0 to 499. If your number comes up, you get $500. The expected payback is $ (Round to the nearest cent as needed.)
In a coin and die game, you roll a fair six-sided die and toss a coin. If you roll a 6 and toss a tails, you gain $110. Otherwise, you lose $10. If you were to play the game 45 times, how much money can you expect to gain or lose? Round the expected value for one game to the nearest cent. Enter an expected loss as a negative number.
Ten thousand raffle tickets are sold for $2 each. One first prize of $1400, 3 second prizes of $800 each, and 9 third prizes of $400 each are to be awarded, with all winners selected randomly. If you purchase one ticket, what are your expected winnings? Round your answer to the nearest cent.
In a bag there are 8 red balls, and 2 pink balls. You pay 3 dollars to draw 2 balls. If you draw 2 red balls you lose, if you draw a red and pink you win 8 dollars, and if you draw 2 pink you get 90 dollars. Find the expected value of this game and round you answer to the nearest cent.
A game-show spinner has these odds of stopping on particular dollar values: 55% for $50, 20% for $100, 15% for $500, and 10% for $1000. What are the odds of a player winning $50 or $100?
You pay $3.50 to play the following game:Each of two fair dice are numbered with 3 on one side, a 2 on two sides, and a 1 on three sides.The dice are rolled once and you are returned the dollar amount corresponding to the sum on thefaces. What is the expected earning from the game?
Your friend convinces you to play a game where you roll a standard die one time. It costs $5 to play the game. If you roll a 3 or a 4 you win $9. Any other roll wins nothing. 4. Find the expected value of this game.
A bag contains 3 red marbles, 9 white marbles, and 15 blue marbles. You randomly select one marble from the bag. If it is red, you win $4. If it is white, you win $2. If it is blue, you lose $1. What is your expected value when playing this game? Round your answer to the nearest cent.
Chandler offers you the opportunity to play his $2 game where he shuffles four cards and you must pick the correct one. What is the expected profit per person if the prize is a $1.25 coke for the game?Single line text.
You toss a coin three times. If you toss heads exactly two times, you win $2. If you toss heads all three times, you win $8. Otherwise, you lose $3. What is the expected payout for one round of this game? Round your answer to the nearest cent. Enter an expected loss as a negative number.
A certain game involves tossing 3 fair coins, and it pays 11¢ for 3 heads, 7¢ for 2 heads, and 4e for 1 head. Is 7¢a fair price to pay to play this game? That is, does the 7¢ cost to play make the game fair? .... The 7¢ cost to play a fair price to pay because the expected winnings are (Type an integer or a fraction. Simplify your answer.)
Suppose it costs $29 to roll a pair of dice. You get paid 4 dollars times the sum of the numbers that appear on the dice. What is the expected payoff of the game? Is it a fair game? The expected payoff of the game is $? is it a fair game?