A game with a winning probability of 0.5. Winning the game has a $3 prize. The game cost $3 to play. What is the expected value
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A: The probability of winning $142 is 1/43 and the probability of losing $6 is 42/43.
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A: Using E(X)= xP(X) Where x= price value P(X)= probability of winning or losing X value.
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A: There are total 250 raffle tickets and each ticket cost of $4.
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A: Total expectation E(x)=$10 Costa of game to play=$10 Win=$10-$10=$0.
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Q: A bag contains 2 gold marbles, 9 silver marbles, and 21 black marbles. Someone offers to play this…
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A: Given, n = 45.2 million = 45200000 p=0.000000044
Q: In a game of chance, players pay $5 for a chance to win one of two prizes: a $100 gift card or…
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Q: In a game you have a 1/99 probability of winning $500 and a 98/99 probability of losing $30. What is…
A: Formula to find expected value is as follows : E(X) = ∑xP(x)
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Q: You draw and keep a single bill from a hat that contains a $1, $10, $20, and $50…
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Q: At a carnival game, the chance of winning a prize is 0.45. Kylee plays the game 3 times. Using the…
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A game with a winning probability of 0.5.
Winning the game has a $3 prize.
The game cost $3 to play. What is the
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- You are invited to play a game in which 2 coins are tossed. If the both coins come up heads, you win $9. If both come up tails, you lose $5. If one coin is heads and one is tails, you lose $3. What is your expected value? Round your answer to the nearest cent.A bag of marbles contains 2 gold marbles, 10 silver marbles, and 30 black marbles. You decide to play the following game: Randomly select one marble from the bag. If it is gold, you win $5. If it is silver, you win $2. If it is black, you lose $2. What is the expected value if you play the game? Express losses as negative values and do not include the dollar sign in your answer. Round to the nearest cent. Provide your answer below:You bet $50 on 00 in a game of roulette. If the wheel spins 00, you have a net win of $1,750, otherwise you lose the $50. A standard roulette wheel has 38 slots numbered 00, 0, 1, 2, ... , 36. What is the expected profit for one spin of the roulette wheel with this bet? Round your answer to the nearest cent. Enter an expected loss as a negative number.
- How many different selections are possible? What is the probability of winning? If you win, what is your net profit? Find the expected value.You are on a TV show. You have been asked to either play a dice game five times or accept a $120 bill. The dice game works like this: If you roll a 1 or 5, you win $50. If you roll a 4, you win $150. If you roll a 2, 3 or 6, you lose $30. Should you play the game? Answer yes or no. __________ Use expected values and decision theory to justify your answer. Please round the answer to two decimal places. Expected value of five games is $__________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.
- At a carnival game, the chance of winning a prize is 0.45. Elijah plays the game 5 times. What is the probability that he wins 1 prize in 5 games? 0.04 0.05 0.21 0.45You draw and keep a single bill from a hat that contains a $1,$10,$20, and $100 bill. What is the expected value of game to you?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?
- A game at a local school fundraiser costs $5 to play and involves spinning an arrow which points at a single color. If it lands on green, you win youth concert tickets worth $20. Otherwise, you lose. The probability of the arrow landing on green is 10%. (a) What is the expected value of playing this game? (b) How much can the event organizers expect to raise if 500 people play this game?In a game, you roll a die. If you get a 1 or a 5, you would win $5. If you roll a 4 you win $15 and if you roll a 2, 3, or 6 you lose $10. What is the expected value of one roll of the die? Type a responseCHP 4 Suppose a bookie will give you $6 for every $3 you risk if you pick the winners in three games of a sport on a "parlay" card. Thus, for every $3 bet, you will either lose $3 or gain $3. What is the bookie's expected earnings per dollar wagered? (Note the odds of winning and losing on a particular game are the same.) 1. The bookie's expected value for a $3 bet for three games is approximately $enter your response here
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