3. At a county fair, you pay $2 to play the following game: You are given a fair coin, and two bags standin front of you, labelled Bag A and Bag B. You flip a coin: If your coin lands Heads, you pick a ballfrom Bag A. If your coin lands tails, you pick a ball from Bag B. Each ball has a dollar value written onit, and you win the number of dollars shown on the ball.Page 2• Bag A contains four (4) balls in total: Three (3) balls show $1, and one (1) ball shows $5.• Bag B contains three (3) balls in total: Two (2) balls show $2, and one (1) ball shows $3.leave with more money than you started with. You LOSE moneywith less money than you started with. You BREAK EVEN if you leave with the same money that youYou WINmoneyifyouifyou leavestarted with.Let H denote the event that you flip heads, T denote the event that you flip tails, W the event that youwin, and L the event that you lose. Let H denote the event that you flip heads, T denote the event that you flip tails, W the event that youwin, and L the event that you lose.(i)you flipped a Heads?You pay to play exactly one game. What is the probability that you WIN given that(ii)You pay to play exactly one game. What is the probability that you WIN?(iii)|What are the expected winnings from playing one game?

Answered: Image /qna-images/answer/6b97059b-904b-41d7-b116-3a1a07fca419.jpg

Answered: Let H denote the event that you flip…

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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None
A ball is drawn randomly from a jar that contains 8 red balls, 7 white balls, and 6 yellow ball. Find the probability of the given event. (a) A red ball is drawn; The probability is: (b) A white ball is drawn; The probability is: (c) A red or white ball is drawn; The probability is:
You are planning a three-day trip to Seattle, Washington, in October. Use the fact that on each day, it could be either sunny or rainy. What is the probability that it is sunny all three days? What is the probability that it rains on exactly one day?
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You purchase a brand new car for $15,000 and insure it. The policy pays 78% of the car's value if there is an issue with the engine or 30% of the car's value if there is an issue with the speaker system. The probability of an issue with the engine is 0.009, and the probability there is an issue with the speaker system is 0.02. The premium for the policy is p. Let X be the insurance company's net gain from this policy. (a) Create a probability distribution for X, using p to represent the premium on the policy. Enter the possible values of X in ascending order from left to right. P(X) (b) Compute the minimum amount the insurance company will charge for this policy. Round your answer to the nearest cent
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K Suppose Emerson wins 41% of all checker games. (a) What is the probability that Emerson wins two checker games in a row? (b) What is the probability that Emerson wins three checker games in a row? (c) When events are independent, their complements are independent as well. Use this result to determine the probability that Emerson wins three checker games in a row, but does not win four in a row. (a) The probability that Emerson wins two checker games in a row is (Round to four decimal places as needed.) (...)

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