Problem #3: A casino game consists of selecting two balls, without replacement, from an urn containing 4 balls numbered 1through 4. The amount that you win (in dollars) is the minimum of the numbers on the two balls. How muchshould be charged to play this game If the casino wants to make $0.30, on average, each time the game is played?Problem #3:Round your answer to 2 decimals.

Given 4 balls 2 balls are selected without replacement

Answered: Problem #3: A casino game consists of…

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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if you work for a non-profit and you want to (and its legal) to run your own lottery. Suppose you need to collect at least $25,000. Design a lottery to allow you to achieve your goal. HOw many tickets would you sell? How many prices ( and for how much ) would you have? How much would you charge per ticket?
You need to borrow money for gas, so you ask your mother and your sister. You can only borrow money from one of them. Before giving you money, they each say they will make you play a game. Your sister says she wants you to flip a fair coin. She will give you $8$ for heads and $⁢22 for tails. Your mother says she wants you to roll a six-sided die. She will give you $4$ times the number that appears on the die. Determine the expected value of each game and decide which offer you should take.
A saleswoman works for a base salary of $360 a month plus 7% commission on all the merchandise she sells beyond $6,000. If she sells $8,700 worth of merchandise in one month, what will her total salary be for the month? The total salary for the month would be $ Enter an integer or decimal number [more..]
During his short stint as Shadow Finance Minister, Barnaby Joyce displayed a curious grasp of numbers. One of his most infamous exclamations was “All this billions, quillions, Brazilians.” Less well known was his tax-reform proposal, recommending that if you earn $x per day, you are taxed x% of that amount (with the understanding that you pay 100% tax if you earn $100 or more per day. Under Senator Barnaby’s plan, which amount x gives you the highest earnings after tax has been taken out?
A buyer paid $41,400,including the buyer's premium, for a car auction. If the auction adds a 15% buyer's premium to the sale price of the car, then what was the sale price of the car? The sale price of the car was $.....(Type an integer or a decimal.)
4. Ravi is putting up a fence in his backyard. He builds 3 units the first day, 7 units the second day, and 11 units the third day. If he continues this pattern, how many days will it take him to finish the 55 unit fence? Complete the table of values to solve the problem.

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