You draw and keep a single bill from a hat that contains a $1,$10,$20, and $100 bill. What is the expected value of game to you?
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You draw and keep a single bill from a hat that contains a $1,$10,$20, and $100 bill. What is the
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- A bag contains 2 gold marbles, 9 silver marbles, and 20 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $3. If it is silver, you win $2. If it is black, you lose $1. What is your expected value if you play this game?One option in a roulette game is to bet $20 on red. (There are 18 red compartments, 18 black compartments, and two compartments that are neither red nor black.) If the ball lands on red, you get to keep the $20 you paid to play the game and you are awarded $20. If the ball lands elsewhere, you are awarded nothing and the $20 that you bet is collected. Find the expected payback for this roulette game if you bet $20 on red. The expected payback is $ (Round to the nearest cent as needed.)Two coins are flipped. You win $1 if either 2 heads or 2 tails turn up, and you lose $3 if a head and a tail turn up. What is the expected value of the game?
- You bet $50 on 00 in a game of roulette. If the wheel spins 00, you have a net win of $1,750, otherwise you lose the $50. A standard roulette wheel has 38 slots numbered 00, 0, 1, 2, ... , 36. What is the expected profit for one spin of the roulette wheel with this bet? Round your answer to the nearest cent. Enter an expected loss as a negative number.A bag contains 1 gold marbles, 10 silver marbles, and 29 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $3. If it is silver, you win $2. If it is black, you lose $1. What is your expected value if you play this game?Use this spinner game to answer questions 1 - 3. It costs $10 to play this game. The pointer is on blue. Probability Pay out Amount +1 $0 $8 $5 $15 $20 $18 Number of sectors: 6 Blue 20.00% -1 Pink 15.00% Number of spins: 1 Gray 30.00% Orange 10.00% Number of spins so far: 0 Green 12.00% Red 13.00% What would the owners expected profit or loss be from this game? Give your answer with a dollar sign and include a negative sign out front if needed. Do not round.
- You are on a TV show. You have been asked to either play a dice game five times or accept a $120 bill. The dice game works like this: If you roll a 1 or 5, you win $50. If you roll a 4, you win $150. If you roll a 2, 3 or 6, you lose $30. Should you play the game? Answer yes or no. __________ Use expected values and decision theory to justify your answer. Please round the answer to two decimal places. Expected value of five games is $__________A bag contains 5 gold marbles, 7 silver marbles, and 23 black marbles. The rules of the game are as follows: You randomly select one marble from the bag. If it is gold, you win $4, if it is silver, you win $3. If it costs $1 to play, what is your expected profit or loss if you play this game? $ Submit QuestionThere are 20 chips in a bag. 10 are blue, 5 are red, 4 are green, and 1 is gold. If you pick the gold chip, you win $12. If you pick a green chip you win $5. If you pick a red chip, you win $4. If you pick a blue chip, you lose $10. Find your expectation for this game.
- An exclusive raffle is being held where only 7 tickets are available. The raffle is free to enter. If you choose to play, you could win $7 or lose $3. Three tickets are winning tickets and you will win $7 if your ticket is drawn. Four tickets are losing tickets where you must pay $3 if your ticket is drawn. What is the expected return if you enter the raffle?In a game, you roll a die. If you get a 1 or a 5, you would win $5. If you roll a 4 you win $15 and if you roll a 2, 3, or 6 you lose $10. What is the expected value of one roll of the die? Type a response
