You are given the chance to play one of two games: One where there is a 20% chance of you winning 8 dollars and an 80% chance of winning 128 dollars. For the second game you have a 20% chance of winning two dollars and an 80% chance of winning 256 dollars. Which lottery is worth more on average, and how much is it worth

You are given the chance to play one of two games: One where there is a 20% chance of you winning 8 dollars and an 80% chance of winning 128 dollars. For the second game you have a 20% chance of winning two dollars and an 80% chance of winning 256 dollars. Which lottery is worth more on average, and how much is it worth

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

A bag contains 20 marbles. 9 of them are red, 4 are black, and the rest are gold. Picking a red marble is worth $18. Black marbles are worth $10, and Gold marbles are worth $5. If you are charged $10 each time you pick a marble, how much should you expect to win or lose overall by playing this game 5 times? (You don't need a dollar sign, just the number. If you expect to lose money, use a - for negative) Plz explain.
Stephen Curry 3 points field goal percentage is 43.5% and 2 points field goal percentage is 47.6%. If you are Steve Kerr, what will you instruct to Curry in a crucial championship game of 5 sec. left and the opposing team is ahead of 2 points (take a 3point shot or a 2point shot)? Assume 50% chance of wining in an overtime.
Whichever team makes the most penalty kicks wins. If the CHS girls’ soccer team makes 60% of their penalty kicks, what are the chances they will win the game? Is this a binomial setting? Explain.
Sixteen pupils shared 4 baskets of camote. There were 64 pieces of camote in the first basket, 16 in the second basket, 32 in the third basket and 48 in the last basket. How many pieces of camote did each pupil get? A.8 B.10C.12D.14
You are going to a party with a friend. Both of you are supposed to take packets of chips and bottles of soft drink for the party. You shop together and buy the same brand of chips & drink. You spend $47.5 to buy 5 packets of chips and 10 bottles of soft drink. Your friend spends $64.5 to buy 3 packets of chips and 15 bottles of soft drink. Given this information determine the following: How much does the shop charge for a packet of chips? Please calculate this answer in dollars (enter the unit "$" with the answer) and round the final value to the nearest cent. Answer: How much does the shop charge for a bottle of soft drink? Please calculate this answer in dollars (enter the unit "$" with the answer) and round the final value to the nearest cent. Answer:
In a multiple-choice test, there are three possible answers to each question. There are 10 questions in the exam. One point is given for the correct answer but nothing is deducted for the wrong answer. To pass the exam you must get at least 5 points. Sigmundur is very bad at the study material and therefore decides what the correct answer is in each question. What are the chances that Sigmundur will pass the exam? 1. about 2%. 2. about 7%. 3. about 14%. 4. about 21%.
Richard has been given a 9-question multiple-choice quiz in his history class. Each question has three answers, of which only one is correct. Since Richard has not attended the class recently, he doesn't know any of the answers. What is the value of p? (p is the value of success) Round your answer to the nearest tenth.
At a raffle, 100 tickets are sold for 1 prize of $100 and 3 consolation prizes of $20. What price should the tickets be sold for if the goal is to make the raffle a fair game?
Shenise is a star player for her women's basketball team. She has injured her ankle, and it is doubtful that she will be able to play in an upcoming game. If Shenise can play, the coach estimates that the team will score 91 points. If Shenise is not able to play, the coach estimates that they will score 70 points. The team doctor estimates that there is a 70% chance Shenise will play. Determine the number of points the team can expect to score.
Help me on this question
Suppose 10% of all redeemed coupons at a supermarket are for 50% off the item purchased. A simulation is used to model a coupon randomly selected and then recorded as 50% off or not 50% off. Which simulation best models the scenario? Place 40 equally sized pieces of paper in a hat. Of the 40, 4 read "50% off" and the rest read "not 50% off ". O Place 30 equally sized pieces of paper in a hat. Of the 30, 6 read "50% off" and the rest read "not 50% off ". O Place 80 equally sized pieces of paper in a hat. Of the 80, 10 read "50% off" and the rest read "not 50% off ". O Place 50 equally sized pieces of paper in a hat. Of the 50, 10 read "50% off" and the rest read "not 50% off ".
Bruce, Clark and Diana found a box of old baseball cards in the attic. They sold 131 cards to a collector and then split the remaining cards equally among themselves. Then, Bruce gave 1/4 cards to Evan. If Evan was given 5 cards, how many cards were in the box when it was found? (Hint: work backwards)