Consider the following game of chance based on the spinner below:Each spin costs $4. If the spinner lands on A the player wins $10, if the spinner stops on D the player wins a penny otherwise the player wins nothing. Calculate theplayers expected winnings. Express your answer to at least three decimal places in dollar form. .Answer: $3/101/10BCA3/103/10

For the spinner game, the probability values for each spin result is given as follows:Spin…

Answered: Consider the following game of chance…

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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Similar questions

Your friend offers to place a bet with you. He will pay you $2 if your favorite sports team wins the game on Tuesday night. But you will pay him $3 if his team wins. Your team has an 55% chance of winning, whereas his only has a 45% chance. This bet is in your favor. True or False?
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $8 each and will sell 800 tickets. There is one $2,000 grand prize, two $500 second prizes, and eleven $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
please provide solutions
Decide which of these numbers could not possibly be probabilities. Explain your answers. a. 00.47 b. −0.047 c. 3.5 d. 1/3.5
If the probability is 0.37 that a candidate loses the election, what is the probability that he wins? ..... The probability the candidate wins the election is. (Simplify your answer. Type an integer or a decimal.)
Place the probability of spinning each number on the probability line below. nt 2. 3 1/2 John bought a cell phone for $99 and the 7% sales tax was added at the register. John gave the cashier six $20 bills, how much change should he receive?
Suppose that you and a friend are playing cards and decide to make a bet. If you draw two clubs in succession from a standard deck of 52 cards without replacing the first card, you win $⁢40. Otherwise, you pay your friend $⁢10. If the same bet was made 25 times, how much would you expect to win or lose? Round your answer to the nearest cent, if necessary. Win: Lose:
Suppose you play a game of rolling a 12-face die. You win if you roll a “3” or “6” or “9”. Otherwise, you lose. a. What is the probability of winning a game? Your answer is 1/4 . Write your answer in decimal number. b. What is the probability of losing a game? Your answer is Write your answer in decimal number. c. Suppose you pay $10 to play the game. You get $10 if you win. Otherwise, you lose the $10. What is your expected value of betting on “3”, “6”, “9”. Hint: 10 x (probability of winning) + (–10) x (probability of losing). Your answer is Write your answer in decimal number. d. What is your expected value of betting on “3”, “6”, “9” for 50 times. Your answer is
Lesson 11 Q7 What is the probability of an equally likely event? A.zero B.25% C.50% D.100%
Assuming you were lucky enough to win and the pay off odds were 35:1, how much money would you get back? Dont forget to include your original $5 bet in your payout. $. DO NOT include $ sign in your answer.
In a popular casino game, you can bet one whether a ball will fall in an arc on a wheel colored red, black, or green. Say the probability of a red outcome is 18 that of a black outcome is 36, and that of a green outcome is 2 Suppose someone makes a S25 bet on black. Find the expected net winnings for this single bet. Interpret the result. Choose the correct answer below and fill in the answer box to complete your choice. (Round to three decimal places as needed.) O A. If the $25 bet on black was placed a very large number of times, the bettor would win a total of dollars. O B. If the $25 bet on black was placed a very large number of times, the average winnings would be dollars per bet. O C. On average, a person is expected to win dollars for any bet on the roulette wheel. OD. A person will win dollars every time a $25 bet was placed on black.

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