"Three dice are rolled in a wire cage. You place a bet on any number from 1 to 6. If any one of the three dice comes up with yournumber, you win the amount of your bet. (You also get your original stake back.) If more than one die comes up with your number,you win the amount of your bet for each match. For example, if you had a $1 bet on number 5, and each of the three dice came upwith 5, you would win $3a What is the probability that the gambler wins the game?b. Who has the long-run advantage in the game: the house or the gambler? By how much on the dollar?c. How would you change the amount of the winnings in every round of Chuck-a-Luck to make the game fair? Say that doubles paySa per $1 bet rather than $2 and triples pay $b per $1 bet instead of $3. What is the condition on a and b?

Answered: "Three dice are rolled in a wire cage.…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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You are playing a card game. If you pull an Ace you win $71, if you pull the King of hearts you win $101, if you pull a jack or a queen you win $37, all other pulls you lose. What price should you be charged to make this a fair game? Round your answer to the nearest hundredth.
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?
One morning Dave an email message to Alvin that said the following: “You are one of my dearest friends. If you care about me, send a copy of this letter to two of your dearest friends tomorrow. If you do not break this chain, you will live long and prosper.” Alvin followed the directions: the next day he sent a copy of the message to two of his dearest friends. The following day, each of the recipients did the same. Count the day Dave sent the original message as the first day, and assume the chain is unbroken. A. How many copies of the message will be sent on the sixth day? B. Find the n-rule that will show how many copies of the message will sent on the n-th day.
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?
One package contains 5 blue, 4 red and 3 green marbles. We pay $ 14 to draw two marbles at random and without replacement. If we get two blue marbles a prize of $ 20 is won, with two red marbles a prize of $ 30 is won, with two green marbles a prize of $ 30 is won, with two green marbles a prize of $ 50 is won and with any other result they lose the $ 14 they paid to play. Find the expected value of the win in this game. Write your answer in dollars and cents without the $ sign Example: -5.06
Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $15. If you roll a 4 or 5, you win $5. Otherwise, you pay $9.
An auction was held today at which 4 rare stamps were sold. Prices ranged from $40 to $55, at $5 increments. Determine the price and order of each auction lot, as well as the name of each winning bidder. One bidder's name was Aidan. 1. The stamp that was auctioned fourth was either the one won by Bo or the one that sold for $45. 2. The stamp won by Candi was either the one that was auctioned first or the one that sold for $50. 3. The stamp won by Devin sold for somewhat less than the stamp that was auctioned first. 4. The stamp that was auctioned first sold for 10 dollars less than the stamp that was auctioned second.
QUESTION 3 You are going to create a portfolio consisting of 2 stocks. There are 6 available stocks to choose from. How many different portfolios are possible?
Mickey and Minnie are playing a game. They spin a spinner that has 11 equally sized pieces, 3 red, 2 blue, 1 green and 5 yellow. If the spinner lands on yellow, Minnie wins $7. If it lands on blue, Minnie wins $ 4. If it lands on any other section, Minnie loses money. In order for the game to be fair, Minnie must lose $ Blank 1. Calculate the answer by read surrounding text. if
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…
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