You are playing Monopoly with a friend. She owns and has developed Park Place and Boardwalk with hotels. If you roll an 8, you will land on Park Place and owe her $1500. You will be able to pay, but you will not have money left afterward. If you roll a 9, you will land on Luxury Tax and have to pay $75. If you roll a 10, you will land on Boardwalk and owe her $2000, which is more than you can pay-and lose the game. If you roll a 7 or less, you will not have to pay any money to anyone. Your friend offers you insurance. Pay her $500 before you roll and even if you land on Boardwalk or Park Place, you will not have to pay any additional money. However, if you roll a 7, you will have topay her $1000. Use probabilities to find expected values. Then compare the amount of money you should expect to pay out on average, under her insurance and by chance. Is her deal fair?

You are playing Monopoly with a friend. She owns and has developed Park Place and Boardwalk with hotels. If you roll an 8, you will land on Park Place and owe her $1500. You will be able to pay, but you will not have money left afterward. If you roll a 9, you will land on Luxury Tax and have to pay $75. If you roll a 10, you will land on Boardwalk and owe her $2000, which is more than you can pay-and lose the game. If you roll a 7 or less, you will not have to pay any money to anyone. Your friend offers you insurance. Pay her $500 before you roll and even if you land on Boardwalk or Park Place, you will not have to pay any additional money. However, if you roll a 7, you will have topay her $1000. Use probabilities to find expected values. Then compare the amount of money you should expect to pay out on average, under her insurance and by chance. Is her deal fair?

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...

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Question

O Odysseyware
M meeting - allyreyn01@bossierstu x
essier.owschools.com/owsoo/studentAssignment/index?eh3D933681943
e C.
6 Greenacres Middle.
W Image result for fac.
Assignment - 14. Quiz 3: Conditional Probability
SECTION 1 OF 1
QUESTION 10
ASSIGNMENTS
COURSES
Attempt 2 of 1
You are playing Monopoly with a friend. She owns and has developed Park Place and Boardwalk with hotels.
If you roll an 8, you will land on Park Place and owe her $1500, You will be able to pay, but you will not have money left
afterward. If you roll a 9, you will land on Luxury Tax and have to pay $75. If you roll a 10, you will land on Boardwalk and
pay-and lose the game. If you roll a 7 or less, you will not have to pay any
her $2000, which is more than you
money to anyone.
Your friend offers you insurance. Pay her $500 before you roll and even if you land on Boardwalk or Park Place, you will
not have to pay any additional money. However, if you roll a 7, you will have topay her $1000.
Use probabilities to find expected values. Then compare the amount of money you should expect to pay out on
average, under her insurance and by chance. Is her deal fair?
UPLOAD
WRITER

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