Suppose there are 6 red, 3 blue, and 7 green chips in a bag, and you win by selecting either a red or a green chip. If you get a red chip, you win $3; a green chip pays $2; and a blue chip pays $0. (Round your answer to two decimal places.) a. What are the expected earnings of this game? The expected earnings are b. If it costs $1.00 to play this game, is it a fair game?

Q: A game-show spinner has these odds of stopping on particular dollar values: 55% for $5, 20% for $50,…

A: Given data in the problem is $5-->55%$50-->20%$100-->15% $1000-->10%

Q: Find the expected gain or loss per ticket for a raffle with a grand prize of $1,000. A total of 100…

A: Given data: Total tickets = 100 Tickets sold price = $20 Grand price  = $1000 To find: Expected gain…

Q: One option in a roulette game is to bet $4 on red.

A: Given, one option in a roulette game is to bet $4 on red. (There are 18 red compartments, 18 black…

Q: A raffle offers a first prize of $1000, 2 second prizes of$300 each, and 20 third prizes of $10…

A: Given: A raffle offers a first prize of $1000, 2-second prizes of $300 each, and 20 third prizes of…

Q: One option in a roulette game is to bet $16 on red. (There are 18 red compartments, 18 black…

A: Given Information: In a roulette game, one option is to bet $16 on red. If the ball lands on red,…

Q: ther is a bag with 3 red, 6 blue, and 9 green ballpens. n(S)=    P(red)=    P(not red) =…

A:

Q: At a local fair, a raffle is being held. There were 1,067 tickets were sold for $10 each. There is…

A:

Q: Supposed a certain game is fair and costs $7 if you lose and has a net payoff of $10 if you win. The…

A: Supposed a certain game is fair and costs $7 if you lose and has a net payoff of $10 if you win.…

Q: In the game of Keno, what are the expected winnings if catching 1 number pays you $3 and catching 2…

A: In the game of Keno, what are the expected winnings if catching 1 number pays you $3 and catching 2…

Q: Imagine the two following situations. In both, you flip a coin two times. In the first, each time…

A: Whenever 2 favorable flips come $20 is won in the first game. While the 1 favorable and another…

Q: You get to select one card at random from a standard deck of 52 cards. If you pick a club, you win…

A: There are 4 suites in a standard deck of cards.  Club , heart , spade, diamond.  Probability of…

Q: A raffle offers a first prize of $400 and 3 second prizes of $80 each. One ticket costs $2, and 600…

A: Given information- No. of ticket = 600 P(wining $400) = 1/600 P(wining $80) = 3/600 Cost of ticket =…

Q: Tom and John play the following game: Tom picks a card from a standard deck of cards. If he selected…

A: # Given: Tom gain =+$12 with probability p=1/4 & Tom loose =-$4 with probability q=3/4  Then to…

Q: You are on a TV show. You have been asked to either play a dice game five times or accept a $50…

A: When playing a dice game:if you roll a 1, 2, or 3, you win $49; if you roll a 4 or 5, you lose $24;…

Q: A game consists of rolling a die. If the die shows 6, the player wins $10. If the die shows a 3,4,5…

A: We first make a probability distribution  outcome 1 2 3 4 5 6 winning amount (xi) 0 0 1 1 1 10…

Q: A game-show spinner has these odds of stopping on particular dollar values: 55% for $5, 20% for…

A: The odds of player wining $500 is 15% and the odds of player wining $1,000 is 10%.

Q: A person pays $5 to draw a card. if I heart is drawn the player wins $1 if it spade is drawn, the…

A: In a set of playing cards, there are total 52 cards and among which 13 are hearts. So the…

Q: A game-show spinner has these odds of stopping on particular dollar values: 45% for $5, 25% for $50,…

A: The mutually exclusive events are those which can not occur simultaneously. For example getting head…

Q: utcome is 00, 0, or 1, there is a probability of 38 of making a net profit of $60 and a 38…

A: Given playing roulette at a casino, a gambler is trying to decide whether to bet $20 on the number…

Q: has these odds of stopping on particular dollar values: 55% for $25, 20% for $100, 15% for $500, and…

A: It is given that the game show spinner has the odds of stopping the particulars dollars. $25 55%…

Q: A spinner game has a wheel with the numbers 1 through 15 marked in equally spaced slots. You pay $2…

A: The wheel consists numbers from 1 to 15. There are 7 even numbers and 8 odd numbers in the wheel.…

Q: One option in a roulette game is to bet $21 on red. ​ (There are 18 red​ compartments, 18 black​…

A: From the given information ,Total number of compartments = 18 + 18 + 2 = 38Using formula,

Q: A group of students has a bag of candy. There are 3 Snickers bars, 2 Butterfingers, and 4 Baby…

A: Given that,The number of snickers bars are 3. The number of butterfingers are 2. The number of baby…

Q: A game-show spinner has these odds of stopping on particular dollar values: 60% for $10, 20% for…

A: Given: Odds of winning $10, P(A)=60100 Odds of winning $25, P(B)=20100 Odds of winning $100,…

Q: t a raffle, 500 ticket are sold at $4 each. There are twenty $10 prizes, four $50 prizes, and one…

A: Let X be a random variable such that X: Gain or loss in buying one ticket in dollars X -4 10 50…

Q: A roulette circle is divided into 10 sectors with 1 of the sectors coloured white, 2 of the sectors…

A: We first make a table for the given information color white red blue black total number of…

Q: You are playing a game where you draw a card from a standard deck, and you will win $17 if you draw…

A:

Q: Find the expected value of the psychic's profit by filling in the boxes below with you answers. Use…

A: Reviewing information, PBoy=0.51P(Girl)=0.49Cost=$20If psychic is wrong, he has to pay back $20

Q: A game-show spinner has these odds of stopping on particular dollar values: 55% for $5, 20% for $25,…

A: Given data: P( winning 5)=0.55 P( winning 25)=0.2   P( winning 5 or 25)=0.55+0.2=0.75

Q: b. Suppose you have $10, and are going to play until you go broke or have $30. What is your best…

A: B)

Q: A player tosses two fair coins. He wins $ 5 if 2 heads occur, $ 2 if 1 head occurs and 1 if no head…

A:

Q: c) A manufacturer is considering the production of a new and better mousetrap. She estimates the…

A: It is required to determine whether the manufacturer should proceed with plans for the new…

Q: ou are on a TV show. You have been asked to either play a dice game four times or accept a $50 bill.…

A: There are six faces in a die The probability of rolling any number from 1 to 6 is 1/6. If you roll a…

Q: What did the insurance company charge Charlie for this policy if the company expected to break even?

A: Here given Charlie buys a one-year term home insurance policy for $p, that will pay $200,000 in the…