In a bag, there are 8 red balls, and 2 pink balls. You pay 5 dollars to draw 2 balls. If you draw 2 red balls you lose, if you draw a red and pink you win 9 dollars, and if you draw 2 pinks you get 70 dollars. Find the expected value of this game and round your answer to the nearest cent.

In a bag, there are 8 red balls, and 2 pink balls. You pay 5 dollars to draw 2 balls. If you draw 2 red balls you lose, if you draw a red and pink you win 9 dollars, and if you draw 2 pinks you get 70 dollars. Find the expected value of this game and round your answer to the nearest cent.

Name: In a bag, there are 8 red balls, and 2 pink balls. You pay 5 dollars
Uploaded: 2024-03-20T07:06:41.000Z
Channel: Bartleby
Description: In a bag, there are 8 red balls, and 2 pink balls. You pay 5 dollars to draw 2 balls. If you draw 2 red balls you lose, if you draw a red and pink you win 9 dollars, and if you draw 2 pinks you get 70 dollars. Find the expected value of this game

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...

See similar textbooks

Similar questions

The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $5 each and will sell 500 tickets. There is one $3,000 grand prize, three $400 second prizes, and fifteen $20 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
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
You play a game with two-six sided dice. If you roll a sum of 4 or 7, you win P400 If you roll a sum of 10, you win P200. However, you lose P300 for anything else. If you continue to play the game, how much do you expect to win or lose in the game?
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 600 tickets. There is one $1,000 grand prize, three $200 second prizes, and thirteen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. $
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.
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:
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each and will sell 600 tickets. There is one $1,000 grand prize, three $400 second prizes, and seventeen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $8 each and will sell 500 tickets. There is one $3,000 grand prize, three $300 second prizes, and sixteen $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. $4
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $5 each and will sell 600 tickets. There is one $3,000 grand prize, four $400 second prizes, and eighteen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
Suppose that you and a friend are playing cards and decide to make a bet. If your friend draws three twos in succession from a standard deck of 52 cards without replacement, you give him $100. Otherwise, he pays you $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. Answer Кeypad Keyboard Shortcuts O Win O Lose %24
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each and will sell 600 tickets. There is one $1,000 grand prize, three $400 second prizes, and eleven $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10 each and will sell 500 tickets. There is one $2,000 grand prize, three $400 second prizes, and fifteen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.