You are given the opportunity to play two different lotteries at no cost. The first lottery is a 50/50 chance of winning $150 or losing $100. With the second one, you win $54 with probability 2/3, and lose $64 with probability 1/3. Which lottery should you choose ? Why ? Explain your answer.

Q: During the grand opening of an electronics store, any customer has a 9% chance of winning a free…

A: From the information, any customer has a 9% chance of winning a free laptop .

Q: Todd and Tiff both train pets. Todd trains 30% of pets and Tiff trains 70% of pets. Todd’s pets are…

A: Given that P(Todd trains)=0.30 P(Tiff trains)=0.70 P(female| Todd) =0.55 P(female| Tiff) =0.65

Q: According to the National Health Statistics Reports, 16% of American women have one child, and 21%…

A: given data ,According to the National Health Statistics , 16% American woment have one childwomen…

Q: There are 20 sides to the messages.  What is the probability of getting the same message 2 times in…

A: The probability of getting a specific message on the first try is 1/20,since there are 20 total…

Q: Hadey is running a game of chance to raise money for a trip to Jamaica to visit his grandparents. A…

A: Introduction: Denote p1, p2, p3, p4, p5, and p6 as the respective true proportions of obtaining the…

Q: A game has a probability of winning of 0.6. Alexa plays until she loses. What is the chance she'll…

A: We have to use Geometric distribution. Geometric Distribution : Geometric random variable X defines…

Q: A bag contains 9 blue marbles, 10 red marbles, 4 white marbles. If one marble is drawn from the bag…

A: Given Information: A bag contains 9 blue marbles, 10 red marbles, 4 white marbles. Total number of…

Q: Fred and Wilma argue over how many children they should have. Fred wants at least 5 boys. If Fred…

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Q: The game board for the television show Jeopardy is divided into 4 categories with each category…

A:

Q: The chance of winning Florida's Pick-6 Lotto game is 1 in approximately 23 million. Suppose you buy…

A: Random variables are of 2 types, discrete and continuous. A discrete random variable can only take…

Q: You play a game with your friend where your probability of winning is 5%. If you play the game 50…

A: Given that: Sample size (n) = 50 P = 5% By using binomial distribution we solve this problem

Q: In the casino a card game takes 1 dollar bets, players have a 46% chance of winning back their bets…

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Q: You are playing a game with your friends. You have to choose a random card out of a standard deck of…

A: We have to find given probability..

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: ou decide to learn a new hobby and take up archery. You can hit the target 34% of the time. If you…

A: Given Data: The probability of hitting a shot on the target is: p=0.34 The total number of shots…

Q: Which of the following games involving the roll of a single die is a fair bet A. Bet $1 and receive…

A: The question revolves around determining which of the given bets involving the roll of a single die…

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: You are taking a multiple-choice quiz that consists of 10 questions. Each question has 5 possible…

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Q: Four people buy raffle tickets and place all of their tickets into a hat.  Raphael bought 8 tickets,…

A: