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If you were to play the following games 1000 times each, which one of them would be the best choice for maximizing profit over the long term? O Paying $100 for the chance to get back $500 (win $400 + $100 you invested) where your chance of winning is 0.25. O Paying $200 for the chance to get back $1000 (win $800 + $200 you invested) where your chance of winning is 0.2. O Paying $200 for the chance to get back $2000 (win $1800 + $200 you invested) where your chancelaf winning is 0.1. O Paying $300 for the chance to get back $5000 (win $4700 + $300 you invested) where your chance of winning is 0.05. Question 11 Assume you were given the chance to pay $1000 to play a game. In this game you have a 30 % chance to break even and a 40% chance of winning $1000 (You get back $2000). Assuming you can play this game an unlimited number of times, what should you do if you wanted to maximize profit? O Don't play, the game is a scam! O Play once but be prepared to quit if you lose the first time. O Go get as much money as you can find and play this game every waking hour of your life.

If you were to play the following games 1000 times each, which one of them would be the best choice for maximizing profit over the long term? O Paying $100 for the chance to get back $500 (win $400 + $100 you invested) where your chance of winning is 0.25. O Paying $200 for the chance to get back $1000 (win $800 + $200 you invested) where your chance of winning is 0.2. O Paying $200 for the chance to get back $2000 (win $1800 + $200 you invested) where your chancelaf winning is 0.1. O Paying $300 for the chance to get back $5000 (win $4700 + $300 you invested) where your chance of winning is 0.05. Question 11 Assume you were given the chance to pay $1000 to play a game. In this game you have a 30 % chance to break even and a 40% chance of winning $1000 (You get back $2000). Assuming you can play this game an unlimited number of times, what should you do if you wanted to maximize profit? O Don't play, the game is a scam! O Play once but be prepared to quit if you lose the first time. O Go get as much money as you can find and play this game every waking hour of your life.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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If you were to play the following games 1000 times each, which one of them would be the best choice for maximizing profit over the long term? O Paying $100 for the chance to get back $500 (win $400 + $100 you invested) where your chance of winning is 0.25. O Paying $200 for the chance to get back $1000 (win $800 + $200 you invested) where your chance of winning is 0.2. O Paying $200 for the chance to get back $2000 (win $1800 + $200 you invested) where your chancelaf winning is 0.1. O Paying $300 for the chance to get back $5000 (win $4700 + $300 you invested) where your chance of winning is 0.05. Question 11 Assume you were given the chance to pay $1000 to play a game. In this game you have a 30 % chance to break even and a 40% chance of winning $1000 (You get back $2000). Assuming you can play this game an unlimited number of times, what should you do if you wanted to maximize profit? O Don't play, the game is a scamt! O Play once but be prepared to quit if you lose the first time. O Go get as much money as you can find and play this game every waking hour of your life.
Transcribed Image Text:If you were to play the following games 1000 times each, which one of them would be the best choice for maximizing profit over the long term? O Paying $100 for the chance to get back $500 (win $400 + $100 you invested) where your chance of winning is 0.25. O Paying $200 for the chance to get back $1000 (win $800 + $200 you invested) where your chance of winning is 0.2. O Paying $200 for the chance to get back $2000 (win $1800 + $200 you invested) where your chancelaf winning is 0.1. O Paying $300 for the chance to get back $5000 (win $4700 + $300 you invested) where your chance of winning is 0.05. Question 11 Assume you were given the chance to pay $1000 to play a game. In this game you have a 30 % chance to break even and a 40% chance of winning $1000 (You get back $2000). Assuming you can play this game an unlimited number of times, what should you do if you wanted to maximize profit? O Don't play, the game is a scamt! O Play once but be prepared to quit if you lose the first time. O Go get as much money as you can find and play this game every waking hour of your life.
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