The game of craps is played as follows: a player rolls two dice. If the sum is 2, 3, or 12, the player loses; if the sum is either a 7 or an 11, the player wins. If the outcome is anything else, the player continues to roll the dice until he rolls either the initial outcome or a 7. If the 7 comes first the player loses, whereas if the initial outcome reoccurs before the 7 appears, the player wins. Compute the probability of a player winning at craps.

The game of craps is played as follows: a player rolls two dice. If the sum is 2, 3, or 12, the player loses; if the sum is either a 7 or an 11, the player wins. If the outcome is anything else, the player continues to roll the dice until he rolls either the initial outcome or a 7. If the 7 comes first the player loses, whereas if the initial outcome reoccurs before the 7 appears, the player wins. Compute the probability of a player winning at craps.

Name: The game of craps is played as follows: a player rolls two dice. If th
Uploaded: 2024-03-20T07:07:26.000Z
Channel: Bartleby
Description: The game of craps is played as follows: a player rolls two dice. If the sum is 2, 3, or 12, the player loses; if the sum is either a 7 or an 11, the player wins. If the outcome is anything else, the player continues to roll the dice until he rolls ei

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

Charlie buys a one-year term home insurance policy for $p, that will pay $200,000 in the event of a major catastrophe and $35,000 in the event of a minor catastrophe. Charlie's home has a 0.2% chance of a major catastrophe and a 0.7% of a minor catastrophe during the one year term. What did the insurance company charge Charlie for this policy if the company expected to break even?
the carnival has come to town, and lucky louie has once again set up his pavilion. He offers a simple game consisting of rolling two normal six-sided dice at the same time for the extraordinarily low price of $3.00 per play. If the player rolls a sum of 3, the player wins $13.00; if the sum is a 9, the player wins $9.00; and if the sum is a 12, the player wins $12.00. Otherwise, the player does not win anything. How much should you expect to win or lose per game (after paying the $3.00) ?
A pair of fair dice is rolled onoe, Suppose that you lose $7 if the dice sum to 5 and win $8 if the dice sum to 11 or 12. How much should you win or lose if any other number tums up in order for the game to be fair? To keep the game fair, you should (Do not round until the final answer. Then round to the nearest cent as needed.) if the dice sum to any other number
a pair of dice is rolled once. Suppose that you lose 9$ if the dice sum to 5 and win 10$ if the dice sum to 11 or 8. How much should you win or lose if any other number turns up in order for the game to be fair?
Martha has $20. She is deciding whether to take the following bet: A coin will be flipped, and if the result is heads she has to pay $20, but if it is tails she receives $70. Martha has the following utility over wealth: u = W", where a is some positive number. For which values of a will she take the bet?
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…
Jina has a bag with 8 balls numbered 1 through 8. She is playing a game of chance. This game is this: Jina chooses one ball from the bag at random. She wins $1 if the number 1 is selected, $2 if the number 2 is selected, S3 if the number 3 is selected, S4 if the number 4 is selected, and $5 if the number 5 is selected. She loses $5 if 6, 7, or 8 is selected. (If necessary, consult a list of formulas.) (a) Find the expected value of playing the game. | dollars (b) What can Jina expect in the long run, after playing the game many times? (She replaces the ball in the bag each time.) O Jina can expect to gain money. She can expect to win | dollars per selection. O Jina can expect to lose money. She can expect to lose dollars per selection. O Jina can expect to break even (neither gain nor lose money).
A child rolls 7 standard dice of different colors and records the numbers showing. Find the number of different outcomes
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.
Emma and Eddie both want to choose their family's dinner entrée. Emma prefers burgers, and Eddie would like to order pizza. To determine who gets to pick, their dad suggests rolling a pair of fair dice. If the sum of the dice is 4 or 10, then Emma will pick dinner. If the sum is 2, 3, 11, or 12, then Eddie will pick dinner. They will roll the dice again if any other number is rolled. Is this a fair way to decide? Explain.(Hint: There are 21 total possibilities when rolling a pair of dice.) a No, it is not fair because there is a higher probability of rolling 2, 3, 11, or 12, so Eddie will most likely choose dinner. b Yes, it is fair because both Emma and Eddie have an equal probability of choosing dinner. c No, it is not fair because there is a higher probability of rolling 4 or 10, so Emma will most likely choose dinner. d No, it is not fair because there is a greater probability that they will roll a number other than 4, 10, 2, 3, 11, or 12.
A favorite casino game of dice “craps” is played in the following manner: A player starts by rolling a pair of balanced dice. If the roll (the sum of two numbers showing on the dice) results in a 7 or 11, the player wins. If the roll results in a 2 or 3 (called “craps”) the player loses. For any other roll outcome, the player continues to throw the dice until the original roll outcome recurs (in which case the player wins) or until a 7 occurs (in which case the player loses). When answering the following questions, you can use this outcome chart for the roll of two dice: Provide the probability answers in fraction and in decimal forms rounded to 4 digits. A. List the possible outcomes (sample space) for winning on the first roll of the dice. B. What is the probability that a player wins the game on the first roll of the dice? C. List the possible outcomes (sample space) for losing on the first roll of the dice. D. What is the probability that a player loses the game on the…