A jar is filled with 54 different colored marbles, 12 of which are red, 21 of which are blue, and 21 of whichare green. A player is asked to draw a single marble from the jar and if they draw a red marble they willwin $20, if they draw a blue marble they will lose $10, and if they draw a green marble they will lose $5.You may round your answer to the nearest cent.1. What is the expected outcome of this game?2. Would it be profitable over time to play?

Given A jar is filled with 54 different colored marbles, 12 of which are red, 21 of which are blue,…

Answered: e green. A player is asked to draw a…

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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In the game of roulette, a wheel consists of 38 slots numbered 0, 00, 1, 2,..., 36. To play the game, a metal ball is spun around the wheel and is allowed to fall into one of the numbered slots. If the number of the slot the ball falls into matches the number you selected, you win $35; otherwise you lose $1. Complete parts (a) through (g) below. Click here to view the standard normal distribution table (page 1). LOADING... Click here to view the standard normal distribution table (page 2). LOADING... (a) Construct a probability distribution for the random variable X, the winnings of each spin. x P(x) 35 0.02630.0263 −1 0.97370.9737 (Type integers or decimals rounded to four decimal places as needed.) (b) Determine the mean and standard deviation of the random variable X. Round your results to the nearest penny. μ=negative 0.05−0.05 σ=5.765.76 (c) Suppose that you play the game 100 times so that n=100. Describe the sampling…
Suppose that you and a friend are playing cards and decide to make a bet. If your friend draws two red cards in succession from a standard deck of 52 cards without replacing the first card, you give him $50. Otherwise, he pays you $20. If the same bet was made 15 times, how much would you expect to win or lose? Round your answer to the nearest cent, if necessary. Answer O Win ⒸLose Keypad Keyboard Shortcuts
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.
Many casinos have a game called the Big Six Money Wheel, which has 54 slots in which are displayed a Joker, the casino logo, and various dollar amounts, as shown in the table at the top of the next column. Players may bet on the Joker, the casino logo, or one or more dollar denominations. The wheel is spun and if the wheel stops on the same place as the player's bet, the player wins that amount for each dollar bet. Denomination Number of slots $40 (Joker) 1 $40 (Casino logo) 1 $20 2 $10 4 $5 7 $2 15 $1 24 If a player bets $4 on the $10 denomination, find the player's expectation. (Round your answer to two decimal places.)
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:
A single die is rolled. Find the odds in favor of rolling a number greater than 2. The odds in favor of rolling a number greater than 2 are C . (Simplify your answers.)
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.
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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e green. A player is asked to draw a single marble from the jar and if they draw a red marble they will n $20, if they draw a blue marble they will lose $10, and if they draw a green marble they will lose $5. u may round your answer to the nearest cent. 1. What is the expected outcome of this game?