The Royals' coach stated that "the odds in favour of us winning the next game are 5:7, the odds of tying the nextgame are 1: 3, and the odds of losing the next game are 2:3." Can the coach's predictions be correct?Justify your answer.口 10=acerF12So D.PauseSreakF9F10F11

Here Take O=Odds of given event P=Probability of that event SO P=o1+o

Answered: The Royals' coach stated that "the odds…

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

Suppose you decided to play a gambling game. In order to play the game there is a $1.50 dollar fee to play. If you roll a 1, 2, or 3 you win nothing (i.e., your net profit is $-1.5 dollars). If you roll a 4 or 5, you win $2.50 (i.e., your net profit is $1). If you roll a 6 you win $5.75 (i.e., your net profit is $4.25).a) Use the information described above to constuct a probability distribution table for the random variable xx which represents the net profit of your winnings. Note: Be sure to enter your probabilities as reduced fractions. xx P(x)P(x) (You roll a 1,2,or 3) (You roll a 1,2, or 3) (You roll a 4 or 5) (You roll a 4 or 5) (You roll a 6) (You roll a 6) b) Find the amount you would expect to win or lose each time you played the game. Round your final answer to two decimal places.μ=
A local community group is holding a charity carnival to build a new playground. The organizers have created a dice game that they call Slam and a card game that they call Snap. The odds against winning Slam are 5:2, and the odds against winning Snap are 8:3. If kids considered their odds, which game would you recommend they play? (Show your work.)
A man buys a racehorse for $25,000 and enters it in two races. He plans to sell the horse afterward, hoping to make a profit. If the horse wins both races, its value will jump to $105,000. If it wins one of the races, it will be worth $65,000. If it loses both races, it will be worth only $10,000. The man believes there is a 30% chance that the horse will win the first race and a 35% chance that it will win the second one. Assuming that the two races are independent events, find the man's expected profit.
c) A manufacturer is considering the production of a new and better mousetrap. She estimates the probability that the new mousetrap is successful is ¾. If it is successful, it would generate profits of $174,000. The development costs of the mousetrap are $121,000. Should the manufacturer proceed with plans for the new mousetrap? Why or why not?
Suppose you are playing a game where you bet $5 and have a 48% chance of winning. The bet is 1:1. What is the house edge on a single game?
For the experiment of rolling an ordinary pair of dice, find the probability that the sum will be 10 or 3. (You may want to use a table showing the sum for each of the 36 equally likely outcomes.) The probability that the sum of the pair of dice is 10 or 3 is (Simplify your answer.)
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?
You draw a card from a deck of 52 cards. If the card is a spade, you win $5, but if the card is not a spade you lose $2.What is your expected earning from this game?
In this problem, the gambler’s idea of odds does not enter at all. a. The odds of an event are 1/5. What is the probability of the event occurring? b. The probability of an event is 2/3. What are the odds of the event occurring?
In gambling, the chances of winning are often written in terms of odds rather than probabilities. The odds of winning is the ratio of the number of successful outcomes to the number of unsuccessful outcomes. The odds of losing is the ratio of the number of unsuccessful outcomes to the number of successful outcomes. For example, if the number of successful outcomes is 2 and the number of unsuccessful outcomes is 3, the odds of winning are 2:3 (read "2 to 3") or 2 2 (Note: If the odds of winning are the probability of success is 3' 5.) 2 3 The odds of an event occurring are 3:1. Find (a) the probability that the event will occur and (b) the probability that the event will not occur.
A game-show spinner has these odds of stopping on particular dollar values: 55% for $50, 20% for $100, 15% for $500, and 10% for $1000. What are the odds of a player winning $50 or $100?
A friend proposes a gamble to you. You roll 2 fair, six-sided dice, and add up the results of each die to find your total number. If your roll totals a 6 or 8, your friend pays you $30. If you roll any other total, you pay your friend $10. What is your expected payoff from playing this game 100 times?.

SEE MORE QUESTIONS

Recommended textbooks for you

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

SEE MORE TEXTBOOKS

The Royals' coach stated that "the odds in favour of us winning the next game are 5:7, the odds of tying the next game are 1: 3, and the odds of losing the next game are 2:3." Can the coach's predictions be correct? Justify your answer.