Problem 4. You are to play the following game of cards. Cards are worth their face value, Jacks, Queens and Kings are also worth 10 and Aces are worth 11. You pull precisely two cards from a standard deck and if their sum is at least 20, then you win the game and are given a prize of cash. It costs you $10 to play the game. At least how much should the prize be in order to make your expected winnings positive? Note that if the sum of your cards is less than 20 then vou lose your $10.

Problem 4. You are to play the following game of cards. Cards are worth their face value, Jacks, Queens and Kings are also worth 10 and Aces are worth 11. You pull precisely two cards from a standard deck and if their sum is at least 20, then you win the game and are given a prize of cash. It costs you $10 to play the game. At least how much should the prize be in order to make your expected winnings positive? Note that if the sum of your cards is less than 20 then vou lose your $10.

Name: Problem 4. You are to play the following game of cards. Cards are wor
Uploaded: 2024-03-20T07:07:26.000Z
Channel: Bartleby
Description: Problem 4. You are to play the following game of cards. Cards are worth their face value,Jacks, Queens and Kings are also worth 10 and Aces are worth 11. You pull precisely twocards from a standard deck and if their sum is at least 20, then you win

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

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: fip 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 $20. 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 () is this game fair? Yes ONO
The board game Dominion is a card-drafting game where the player with the most victory points wins. You are playing Dominion with a group of friends, and are on the last turn. The only two remaining cards that you can purchase are Duchies and Dukes. Each Duchy is worth 3 victory points and costs 5 gold. Each Duke gives you 1 victory point per Duchy in your possession, and also costs 5 gold. Assuming you have N gold and can purchase as many cards as you like, how many Dukes and Duchies should you buy to maximize your victory points?
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. • 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.You WIN money if you leave with more money than you started with. You LOSE money if you leavewith less money than you started with. You BREAK EVEN if you leave with the same money that youstarted 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.(i) You pay to play exactly one game. What is the probability that you WIN given thatyou flipped a Heads?(ii)…
If I $6 to play a spinner game and the chances of winning $1 dollar is 50% and the chances of winning $12 is 50%. What is the fair price of the game?
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 15 spots labeled $1, 9 spots labeled $2, and 9 spots labeled $10, how much should a player expect to win on average?
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 8 spots labeled $1, 16 spots labeled $2, and 1 spots labeled $10, how much should a player expect to win on average?
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…
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.
Answer the following question. In a recent competition, each of three teams played each other team once. The results are given in the table below. What was the score of the A vs. C game? Give A's goals first. Team A B C Wins 1 1 0 Losses Ties 0 1 0 1 2 0 Goals For Goals Against 6 3 2 4 2 5 (Remember: Your solution must show appropriate work or reasoning.)
One option in a roulette game is to bet $7 on red. (There are 18 red compartments, 18 black compartments, and two compartments that are neither red nor black.) If the ball lands on red, you get to keep the $7 you paid to play the game and you are awarded $7. If the ball lands elsewhere, you are awarded nothing and the $7 that you bet is collected. Complete parts (a) through (b) below. III a. What is the expected value for playing roulette if you bet $7 on red? $ (Round to the nearest cent.) b. What does this expected value mean? Choose the correct statement below. O A. This value represents the expected loss over the long run for each game played. OB. Over the long run, the player can exper to break even. OC. This value represents the expected win over the long run for each game played.
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…