What is the expected value of your bet
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: From the provided information, the total number of tickets they will sell = 700. So,
Q: A local organization sells 10,000 lottery tickets for $1 each. Prizes are awarded by a random…
A: Given, A organization sells 10,000 lottery tickets for $1 each. First price earn $300, Second win…
Q: You randomly select one card from a 52-card deck. Find the probability of selecting the five of…
A: We have given that probability of selecting the five of spades or the three of clubs We have to find…
Q: In the game of roulette, a player can place a $9 bet on the number 2 and have a 1/38 probability of…
A: Expected value: The expected value of a random variable is the sum of the possible values that the…
Q: You draw two cards from a standard deck of 52 cards without replacing the first one before drawing…
A: We have given information, A standard deck have 52 cards. We draw two cards without replacing the…
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A:
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: Given information- We have given that the student council is hosting a drawing to raise money for…
Q: Suppose you have 10 tennis balls and you randomly pick some number of them. What is the probability…
A: Given the event that there are 10 tennis balls and one randomly pick some number of them.
Q: A player rolls a fair dice and gets "$3 multiplied by the value on the dice" in the case of even…
A: Basic concepts of probability are used.
Q: You pay $20 to enter a raffle. The first ticket drawn wins $990, the second ticket drawn wins $465,…
A: The objective of this question is to calculate the expected earning on a raffle ticket. The expected…
Q: Suppose you play a game where you toss three fair coins. If you get three tails, you win $10.…
A: Probability of getting a tail while tossing a coin is 1/2 So, if 3 coins will be tossed then the…
Q: One of the wagers in roulette is to bet that the ball will stop on a number that is a multiple of 3.…
A: Given Information: The roulette wheel includes the numbers 0, 00, and 1 to 36. 0 and 00 are not…
Q: If the odds in favor of winning a bet are 3:33, what is the probability of winning the bet? Write…
A: Given data: The given odd in favor of winning a bet is O(E)=3:33. The Depression for the odd in…
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: Given There is one $2,000 grand prize, three $300 second prizes, and fifteen $10 third prizes. You…
Q: You pay $20 to enter a raffle. The first ticket drawn wins $912, the second ticket drawn wins $481,…
A:
Q: In a card game, there are 15 cards laid out on a table. 6 of the cards are blank, 2 of the cards are…
A: Here, we use the expected value and probabilty for the purpose of knowing the variables probability…
Q: You pay $20 to enter a raffle. The first ticket drawn wins $983, the second ticket drawn wins $474,…
A: The expectation of a discrete random variable X, denoted by E(X), is defined as a measure of central…
Q: Assuming you were lucky enough to win and the pay off odds were 35:1, how much money would you get…
A: Given data: The given odd ratio is 35:1. The meaning of the given odd ratio is that for every $1 we…
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: Given: $10 each and sell 800 tickets one $1000 ground prize four $ 200-second prize fifteen $20…
Q: Suppose that you and a friend are playing cards and decide to make a bet. If you draw two face…
A:
Q: You pay $20 to enter a raffle. The first ticket drawn wins $964, the second ticket drawn wins $522,…
A: The expectation of a discrete random variable X, denoted by E(X), is defined as a measure of central…
Q: Finn, John, Andrew, and Eddie are going to have a movie night this weekend. Together, they have 30…
A: It is given that together they have 30 movies. So, out of 30, 4 movies can be chosen in 30C4 =…
Q: Consider the dice game in which 2 dice are rolled. If the sum of the dice is 11, then your friend…
A: If the sum of the dice is 11, then your friend will give you $45; otherwise, you have to give your…
Q: You randomly select one card from a 52-card deck. Find the probability of selecting the king of…
A: It is known that Number of cards in a deck = 52 Number of king of diamonds = 1 Number of two of…
Q: Assuming you were lucky enough to win and the pay off odds were 35:1, how much money would you get…
A: Given the pay off odds=35:1 Original bet=$5 35:1=(Net profit):(amount bet)
Q: Suppose you are invited to play a game in which you bet $1 on any number from 000 to 899. If your…
A: There are total numbers from 000 to 899=900 And also given, bet amount when any above number…
Q: Suppose that in a particular game two dice are tossed. If the two dice sum to nine or eleven, the…
A: Total number of possible outcomes while tossing two coins =36 Total possible events for sum to nine…
Q: Liam and John are going to play video games this afternoon. Together, they have 30 video games. If…
A: Total no.of video games=30
Q: You just bought one ticket. Find the expected value for your profit
A: here given, The student council is hosting a drawing to raise money for scholarships. They are…
Q: Find the probability of getting 3 face cards (king, queen, or jack) when 3 cards are drawn from a…
A: Given that in standard deck 3 face cards are drawn without replacement. Total number of cards in a…
Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…
A: Expected value: The expected value of a random variable is the sum of the possible values that the…
Q: Suppose you are invited to play a game in which you bet $1 on any number from 000 to 599. If your…
A: Number from 000 and 599 If your number comes up you get $300 We have to find Expected wining
Q: the student council is hosting a drawing to raise money for scholarships. they are selling tickets…
A: Given information- No. of lottery ticket sold = 500 Price of a lottery ticket = $8 The prizes are:…
Q: 33% of all college students major in STEM (Science, Technology, Engineering, and Math). If 33…
A: Hey, since there are multiple questions posted, we will answer first question. If you want any…
Q: If you draw a random card from a standard deck of 52 cards, what are the odds of drawing a jack?…
A: Given data: The total numbers of cards are n=52. The numbers of jacks in the playing deck of the…
Q: Find the expected payback for a game in which you bet $6 on any number from 0 to 499. If your number…
A: Given,You bet $6 on any number from 0 to 499. That is, total numbers = 500If your number comes up,…
Suppose that you and a friend are playing cards and decide to make a bet. If you draw two clubs in succession from a standard deck of 52 cards without replacing the first card, you win $40. Otherwise, you pay your friend $10$10. What is the
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- Suppose that you and a friend are playing cards and decide to make a bet. If your friend draws two red cards in succession from a standard deck of 52 cards without replacing the first card, you give him $50. Otherwise, he pays you $20. If the same bet was made 15 times, how much would you expect to win or lose? Round your answer to the nearest cent, if necessary. Answer O Win ⒸLose Keypad Keyboard ShortcutsYou randomly select one card from a 52-card deck. Find the probability of selecting a seven or a six.Two hundred fifty tickets are sold at a fund raiser. If Sarah buys 15 tickets, the probability that she will win the prize quilt is what percentage
- You draw two cards from a standard deck of 52 cards and replace the first one before drawing the second. Find the probability of drawing a 10 for the first card and a king for the second card. Round your answer to the nearest thousandth.Ten thousand raffle tickets are sold for $2 each. One first prize of $1400, 3 second prizes of $800 each, and 9 third prizes of $400 each are to be awarded, with all winners selected randomly. If you purchase one ticket, what are your expected winnings? Round your answer to the nearest cent.You randomly select one card from a 52-card deck. Find the probability of selecting the five of hearts or eight of diamonds.
- Your friend offers to place a bet with you. He will pay you $2 if your favorite sports team wins the game on Tuesday night. But you will pay him $3 if his team wins. Your team has an 55% chance of winning, whereas his only has a 45% chance. This bet is in your favor. True or False?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?.You are dealt one card from a 52-card deck. Find the probability that you are not dealt a ten. The probability is (Type an integer or a fraction. Simplify your answer.)
- Suppose that you and a friend are playing cards and decide to make a bet. If your friend draws three twos in succession from a standard deck of 52 cards without replacement, you give him $100. Otherwise, he pays you $10. If the same bet was made 25 times, how much would you expect to win or lose? Round your answer to the nearest cent, if necessary. Answer Кeypad Keyboard Shortcuts O Win O Lose %24You toss a coin three times. If you toss heads exactly two times, you win $2. If you toss heads all three times, you win $8. Otherwise, you lose $3. What is the expected payout for one round of this game? Round your answer to the nearest cent. Enter an expected loss as a negative number.
