expected winnings
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A box contains 6 card labelled 1,2,3,4,6, and 8. A game consists of drawing two cards in succession at random and without replacement and writing the digits from left to right in the order drawn (for example, drawing 3 and then 8 would yield the number 38, while drawing 8 and then 3 would yield the number 83). If the number thus constructed is greater than 50, then the player wins $20. If the number thus constructed is less than 50 but even, the player wins $10. Otherwise, the player loses $20. What is a player's expected winnings on this game (in dollars)?
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- A new game is being introduced at the Hard Rock Cafe. A ball is spun around a wheel until it comes to rest in one of many spots. Whatever is listed in that spot will be the player's winnings. If the wheel has 11 spots labeled $1, 10 spots labeled $2, and 5 spots labeled $10, how much should a player expect to win on average?James placed a $25 bet on a red and a $5 bet on the number 33 (which is black) on a standard 00 roulette wheel. -if the ball lands in a red space, he wins $25 on his 'red' but loses $5 on his '33' bet - so he wins $20 -if the ball lands the number 33, he loses $25 on his 'red' bet but wins $175 on his '33' bet: He wins $150 -if the ball lands on a spae that isn't red and isnt 33 he loses both bets, so he loses $30 So for each spin; he either wins $150, wins $20, or loses $30 -probability that he wins $150 is 1/38 or .0263 -probability that he wins $20 is 18/38 or .4737 -probability that he loses $30 is 19/38 or .5000 let X = the profit that james makes on the next spin x P (X=x) x*P(X=x) x^2*P(X=x) 150 .0263 3.945 591.75 20 .4737 9.474 189.48 -30 .5000 -15.000 450.00 sum (sigma) 1.000 -1.581 1231.23 u (expected value)= -$1.581 variance = 1228.73044 standard deviation = 35.053 FILL IN THE BLANK if you play 2500 times, and Let, x (x bar)= the mean winnings (or…You have been asked to play a card game. A card is dealt from a complete deck offifty-two cards (no jokers). A deck has 4 aces, 4 kings, 4 queens, 4 jacks, and 36 other cards.It works like this:• If the card is a ace, you lose $4.• If the card is a king or jack, you lose $10.• If the card is a queen, you win $8.• If the card is anything else, you win $1.Find the expected value of the game. Write the excepted value rounded to the nearest cent
- You are a contestant on a game show. There are three closed doors in front of you. The game show host tells you that behind one of these doors is a million dollars in cash, and that behind the other two doors there are trashes. You do not know which doors contain which prizes, but the game show host does. The game you are going to play is very simple: you pick one of the three doors and win the prize behind it. After you have made your selection, the game show host opens one of the two doors that you did not choose and reveals trash. At this point, you are given the option to either stick with your original door or switch your choice to the only remaining closed door. To maximize your chance to win a million dollars in cash, should you switch? Choices: A) Yes B) No C) It doesn't matter because the probability for you to win a million dollars in cash stays the same no matter if you switch or not.At a back-to-school party, one of your friends lets you play a two-stage game where you pay $3 to play. The game works as follows: flip a fair coin, noting the side showing, and roll a fair standard 4-sided die (numbered 1–4), noting the number showing. If the die shows a 3 and the coin shows tails, then you win $22. If the coin shows heads and the die shows an even number, then you win $9. Otherwise, you do not win anything. Let X be your net winnings. (a) Create a probability distribution for X. Enter the possible values of X in ascending order from left to right. All probabilities should be exact. X P(X) (b) Compute your expected net winnings for the game. Round your answer to the nearest cent.A game consists of spinning a spinner and then rolling a number cube. The spinner is equally likely to land on any 1 of the 4 colors red, yellow, green, or blue. The number cube is equally likely to land with any of the 6 sides labeled 1 through 6 up. To win the game, a contestant must either spin red and roll any number or spin a color other than red and roll a 6. In other words, the contestant must either spin red or roll a 6 to win. Draw a rectangular model to go along with this problem.
- Toward the end of a game of Scrabble you hold the letters D,O,G and Q. You can choose three of these four letters and arrange them in order in how many different ways?You are given a deck of n cards, which are numbered 1 through n. After the n cards are randomly shuffled, the cards are dealt face up on the table, one card at a time. Card rule: after the first card is placed on the table, each new card must have a higher number than the previous card. If it does, this new card remains on the table. If the new card is lower in value, then this card is removed from the table and the game is immediately over. ***The image is the example*** Questions: Prove that for all positive integers n ≥ 3, if there are n cards in the deck, you score exactly 1 point with probability 12 and exactly 2 points with probability 13.The player pays a fee of $5 to play. The player then rolls a 12-sided die three times. If the player rolls a 7 on any of the three rolls, they win a prize. The prize is determined by the number of 7s rolled. If the player rolls one 7, they win $5. If the player rolls two 7s, they win a $10. If the player rolls three 7s, they win $20. Compare the theoretical results of the game to the experimental results, including a discussion of whether the results were typical or rare. Theoretical results: Roll (including all 3 rolls) Result Money earned 1 7,7,7 $15 2 2,4,5 $5 3 5,7,9 $5 4 1,9,3 $0 5 2,12,7 $5 6 3,12,3 $0 7 7,4,8 $5 8 6,7,7 $10 9 5,12,4 $0 10 7,5,7 $10 Experimental results: Roll (including all 3 rolls) Result Money earned 1 1,3,7 $5 2 3,6,4 $0 3 7,6,9 $5 4 8,7,7 $10 5 11,4,1 $0 6 6,5,7 $7 7 4,6,3 $0 8 7,1,9 $7 9…