(a).

To find: The payment for any other outcome in order to make the game fair.

For the game to be fair, $1.5 must be paid if loose.

Given information:

A roll a multiple of 3 , we win $3 ; otherwise, we lose $1 . The probabilities of the two possible payoffs are shown:

ValueProbability+326−146

The expected value is 3 ×2/6+−1×4/6=6/6−4/6=1/3 .

Calculation:

In a die, multiple of 3 are 3 and 6 , two outcomes. So, probability of getting a multiple of 3 is 2/6. So, the probability to win $3 is 2/6 while to lose is 4/6 .

Now, for the game to be fair, the expected value or an average dollar amount if the game is played in long run should be 0 .

Let this amount of losing money be $x . Then 32/6+−x4/6=0

which implies, x=3/2 or $1.5

(b).

To find: The expected value of the given game.

The expected value of the payoff for this game is $0.67 .

Given information:

A roll a multiple of 3 , we win $3 ; otherwise, we lose $1 . The probabilities of the two possible payoffs are shown:

ValueProbability+326−146

The expected value is 3 ×2/6+−1×4/6=6/6−4/6=1/3 .

Calculation:

All possible outcomes of the sum of the two rolled dice are given in the below.

First die →Second die ↓123456123456723456783456789456789105678910116789101112

We note that a multiple of 3 is obtained when a sum of 3, 6, 9, or 12 is rolled. Moreover, we note that 2+5+4+1=12 of the 36 possible outcomes in the image are a 3, 6, 9, or 12 1.

The probability is the number of favorable outcomes divided by the number of possible outcomes:

P(Win $3)=Number of favorable outcomesTotal number of outcomes =1236 =12

Use the complementary rule: P(Ac)=P(not A)=1−P(A)

P(Lose $1)=1−P(Win $3) =1−13 =23

The expected value (or mean) is the sum of the product of each possibility x with its probability Px :

μ=∑xP(x) =$3×P(Win $3)+(−$1)×P(Lose $1) =$3×13−$1×23 =$1−$23 =$13 ≈$0.67

Thus the expected value of the payoff for this game is $0.67.

Chapter 10.1, Problem 60E

Chapter 10.1, Problem 62E

Chapter 10 Solutions

PRECALCULUS:GRAPHICAL,...-NASTA ED.

Ch. 10.1 - Prob. 1QR Ch. 10.1 - Prob. 2QR Ch. 10.1 - Prob. 3QR Ch. 10.1 - Prob. 4QR Ch. 10.1 - Prob. 5QR Ch. 10.1 - Prob. 6QR Ch. 10.1 - Prob. 7QR Ch. 10.1 - Prob. 8QR Ch. 10.1 - Prob. 9QR Ch. 10.1 - Prob. 10QR

Ch. 10.1 - Prob. 1E Ch. 10.1 - Prob. 2E Ch. 10.1 - Prob. 3E Ch. 10.1 - Prob. 4E Ch. 10.1 - Prob. 5E Ch. 10.1 - Prob. 6E Ch. 10.1 - Prob. 7E Ch. 10.1 - Prob. 8E Ch. 10.1 - Prob. 9E Ch. 10.1 - Prob. 10E Ch. 10.1 - Prob. 11E Ch. 10.1 - Prob. 12E Ch. 10.1 - Prob. 13E Ch. 10.1 - Prob. 14E Ch. 10.1 - Prob. 15E Ch. 10.1 - Prob. 16E Ch. 10.1 - Prob. 17E Ch. 10.1 - Prob. 18E Ch. 10.1 - Prob. 19E Ch. 10.1 - Prob. 20E Ch. 10.1 - Prob. 21E Ch. 10.1 - Prob. 22E Ch. 10.1 - Prob. 23E Ch. 10.1 - Prob. 24E Ch. 10.1 - Prob. 25E Ch. 10.1 - Prob. 26E Ch. 10.1 - Prob. 27E Ch. 10.1 - Prob. 28E Ch. 10.1 - Prob. 29E Ch. 10.1 - Prob. 30E Ch. 10.1 - Prob. 31E Ch. 10.1 - Prob. 32E Ch. 10.1 - Prob. 33E Ch. 10.1 - Prob. 34E Ch. 10.1 - Prob. 35E Ch. 10.1 - Prob. 36E Ch. 10.1 - Prob. 37E Ch. 10.1 - Prob. 38E Ch. 10.1 - Prob. 39E Ch. 10.1 - Prob. 40E Ch. 10.1 - Prob. 41E Ch. 10.1 - Prob. 42E Ch. 10.1 - Prob. 43E Ch. 10.1 - Prob. 44E Ch. 10.1 - Prob. 45E Ch. 10.1 - Prob. 46E Ch. 10.1 - Prob. 47E Ch. 10.1 - Prob. 48E Ch. 10.1 - Prob. 49E Ch. 10.1 - Prob. 50E Ch. 10.1 - Prob. 51E Ch. 10.1 - Prob. 52E Ch. 10.1 - Prob. 53E Ch. 10.1 - Prob. 54E Ch. 10.1 - Prob. 55E Ch. 10.1 - Prob. 56E Ch. 10.1 - Prob. 57E Ch. 10.1 - Prob. 58E Ch. 10.1 - Prob. 59E Ch. 10.1 - Prob. 60E Ch. 10.1 - Prob. 61E Ch. 10.1 - Prob. 62E Ch. 10.2 - Prob. 1QR Ch. 10.2 - Prob. 2QR Ch. 10.2 - Prob. 3QR Ch. 10.2 - Prob. 4QR Ch. 10.2 - Prob. 5QR Ch. 10.2 - Prob. 6QR Ch. 10.2 - Prob. 7QR Ch. 10.2 - Prob. 8QR Ch. 10.2 - Prob. 9QR Ch. 10.2 - Prob. 10QR Ch. 10.2 - Prob. 1E Ch. 10.2 - Prob. 2E Ch. 10.2 - Prob. 3E Ch. 10.2 - Prob. 4E Ch. 10.2 - Prob. 5E Ch. 10.2 - Prob. 6E Ch. 10.2 - Prob. 7E Ch. 10.2 - Prob. 8E Ch. 10.2 - Prob. 9E Ch. 10.2 - Prob. 10E Ch. 10.2 - Prob. 11E Ch. 10.2 - Prob. 12E Ch. 10.2 - Prob. 13E Ch. 10.2 - Prob. 14E Ch. 10.2 - Prob. 15E Ch. 10.2 - Prob. 16E Ch. 10.2 - Prob. 17E Ch. 10.2 - Prob. 18E Ch. 10.2 - Prob. 19E Ch. 10.2 - Prob. 20E Ch. 10.2 - Prob. 21E Ch. 10.2 - Prob. 22E Ch. 10.2 - Prob. 23E Ch. 10.2 - Prob. 24E Ch. 10.2 - Prob. 25E Ch. 10.2 - Prob. 26E Ch. 10.2 - Prob. 27E Ch. 10.2 - Prob. 28E Ch. 10.2 - Prob. 29E Ch. 10.2 - Prob. 30E Ch. 10.2 - Prob. 31E Ch. 10.2 - Prob. 32E Ch. 10.2 - Prob. 33E Ch. 10.2 - Prob. 34E Ch. 10.2 - Prob. 35E Ch. 10.2 - Prob. 36E Ch. 10.2 - Prob. 37E Ch. 10.2 - Prob. 38E Ch. 10.2 - Prob. 39E Ch. 10.2 - Prob. 40E Ch. 10.2 - Prob. 41E Ch. 10.2 - Prob. 42E Ch. 10.2 - Prob. 43E Ch. 10.2 - Prob. 44E Ch. 10.2 - Prob. 45E Ch. 10.2 - Prob. 46E Ch. 10.2 - Prob. 47E Ch. 10.2 - Prob. 48E Ch. 10.3 - Prob. 1QR Ch. 10.3 - Prob. 2QR Ch. 10.3 - Prob. 3QR Ch. 10.3 - Prob. 4QR Ch. 10.3 - Prob. 5QR Ch. 10.3 - Prob. 6QR Ch. 10.3 - Prob. 7QR Ch. 10.3 - Prob. 8QR Ch. 10.3 - Prob. 9QR Ch. 10.3 - Prob. 10QR Ch. 10.3 - Prob. 1E Ch. 10.3 - Prob. 2E Ch. 10.3 - Prob. 3E Ch. 10.3 - Prob. 4E Ch. 10.3 - Prob. 5E Ch. 10.3 - Prob. 6E Ch. 10.3 - Prob. 7E Ch. 10.3 - Prob. 8E Ch. 10.3 - Prob. 9E Ch. 10.3 - Prob. 10E Ch. 10.3 - Prob. 11E Ch. 10.3 - Prob. 12E Ch. 10.3 - Prob. 13E Ch. 10.3 - Prob. 14E Ch. 10.3 - Prob. 15E Ch. 10.3 - Prob. 16E Ch. 10.3 - Prob. 17E Ch. 10.3 - Prob. 18E Ch. 10.3 - Prob. 19E Ch. 10.3 - Prob. 20E Ch. 10.3 - Prob. 21E Ch. 10.3 - Prob. 22E Ch. 10.3 - Prob. 23E Ch. 10.3 - Prob. 24E Ch. 10.3 - Prob. 25E Ch. 10.3 - Prob. 26E Ch. 10.3 - Prob. 27E Ch. 10.3 - Prob. 28E Ch. 10.3 - Prob. 29E Ch. 10.3 - Prob. 30E Ch. 10.3 - Prob. 31E Ch. 10.3 - Prob. 32E Ch. 10.3 - Prob. 33E Ch. 10.3 - Prob. 34E Ch. 10.3 - Prob. 35E Ch. 10.3 - Prob. 36E Ch. 10.3 - Prob. 37E Ch. 10.3 - Prob. 38E Ch. 10.3 - Prob. 39E Ch. 10.3 - Prob. 40E Ch. 10.3 - Prob. 41E Ch. 10.3 - Prob. 42E Ch. 10.3 - Prob. 43E Ch. 10.3 - Prob. 44E Ch. 10.3 - Prob. 45E Ch. 10.3 - Prob. 46E Ch. 10.3 - Prob. 47E Ch. 10.3 - Prob. 48E Ch. 10.3 - Prob. 49E Ch. 10.3 - Prob. 50E Ch. 10.3 - Prob. 51E Ch. 10.3 - Prob. 52E Ch. 10.3 - Prob. 53E Ch. 10.3 - Prob. 54E Ch. 10.3 - Prob. 55E Ch. 10.3 - Prob. 56E Ch. 10.3 - Prob. 57E Ch. 10.3 - Prob. 58E Ch. 10.3 - Prob. 59E Ch. 10.3 - Prob. 60E Ch. 10.4 - Prob. 1QR Ch. 10.4 - Prob. 2QR Ch. 10.4 - Prob. 3QR Ch. 10.4 - Prob. 4QR Ch. 10.4 - Prob. 5QR Ch. 10.4 - Prob. 6QR Ch. 10.4 - Prob. 7QR Ch. 10.4 - Prob. 8QR Ch. 10.4 - Prob. 9QR Ch. 10.4 - Prob. 10QR Ch. 10.4 - Prob. 1E Ch. 10.4 - Prob. 2E Ch. 10.4 - Prob. 3E Ch. 10.4 - Prob. 4E Ch. 10.4 - Prob. 5E Ch. 10.4 - Prob. 6E Ch. 10.4 - Prob. 7E Ch. 10.4 - Prob. 8E Ch. 10.4 - Prob. 9E Ch. 10.4 - Prob. 10E Ch. 10.4 - Prob. 11E Ch. 10.4 - Prob. 12E Ch. 10.4 - Prob. 13E Ch. 10.4 - Prob. 14E Ch. 10.4 - Prob. 15E Ch. 10.4 - Prob. 16E Ch. 10.4 - Prob. 17E Ch. 10.4 - Prob. 18E Ch. 10.4 - Prob. 19E Ch. 10.4 - Prob. 20E Ch. 10.4 - Prob. 21E Ch. 10.4 - Prob. 22E Ch. 10.4 - Prob. 23E Ch. 10.4 - Prob. 24E Ch. 10.4 - Prob. 25E Ch. 10.4 - Prob. 26E Ch. 10.4 - Prob. 27E Ch. 10.4 - Prob. 28E Ch. 10.4 - Prob. 29E Ch. 10.4 - Prob. 30E Ch. 10.4 - Prob. 31E Ch. 10.4 - Prob. 32E Ch. 10.4 - Prob. 33E Ch. 10.4 - Prob. 34E Ch. 10.4 - Prob. 35E Ch. 10.4 - Prob. 36E Ch. 10.4 - Prob. 37E Ch. 10.4 - Prob. 38E Ch. 10.4 - Prob. 39E Ch. 10.4 - Prob. 40E Ch. 10.4 - Prob. 41E Ch. 10.4 - Prob. 42E Ch. 10.4 - Prob. 43E Ch. 10.4 - Prob. 44E Ch. 10.4 - Prob. 45E Ch. 10.4 - Prob. 46E Ch. 10.4 - Prob. 47E Ch. 10.4 - Prob. 48E Ch. 10.4 - Prob. 49E Ch. 10.4 - Prob. 50E Ch. 10.4 - Prob. 51E Ch. 10.4 - Prob. 52E Ch. 10.4 - Prob. 53E Ch. 10.4 - Prob. 54E Ch. 10.4 - Prob. 55E Ch. 10.4 - Prob. 56E Ch. 10.5 - Prob. 1QR Ch. 10.5 - Prob. 2QR Ch. 10.5 - Prob. 3QR Ch. 10.5 - Prob. 4QR Ch. 10.5 - Prob. 5QR Ch. 10.5 - Prob. 6QR Ch. 10.5 - Prob. 7QR Ch. 10.5 - Prob. 8QR Ch. 10.5 - Prob. 9QR Ch. 10.5 - Prob. 10QR Ch. 10.5 - Prob. 1E Ch. 10.5 - Prob. 2E Ch. 10.5 - Prob. 3E Ch. 10.5 - Prob. 4E Ch. 10.5 - Prob. 5E Ch. 10.5 - Prob. 6E Ch. 10.5 - Prob. 7E Ch. 10.5 - Prob. 8E Ch. 10.5 - Prob. 9E Ch. 10.5 - Prob. 10E Ch. 10.5 - Prob. 11E Ch. 10.5 - Prob. 12E Ch. 10.5 - Prob. 13E Ch. 10.5 - Prob. 14E Ch. 10.5 - Prob. 15E Ch. 10.5 - Prob. 16E Ch. 10.5 - Prob. 17E Ch. 10.5 - Prob. 18E Ch. 10.5 - Prob. 19E Ch. 10.5 - Prob. 20E Ch. 10.5 - Prob. 21E Ch. 10.5 - Prob. 22E Ch. 10.5 - Prob. 23E Ch. 10.5 - Prob. 24E Ch. 10.5 - Prob. 25E Ch. 10.5 - Prob. 26E Ch. 10.5 - Prob. 27E Ch. 10.5 - Prob. 28E Ch. 10.5 - Prob. 29E Ch. 10.5 - Prob. 30E Ch. 10.5 - Prob. 31E Ch. 10.5 - Prob. 32E Ch. 10.5 - Prob. 33E Ch. 10.5 - Prob. 34E Ch. 10.5 - Prob. 35E Ch. 10.5 - Prob. 36E Ch. 10.5 - Prob. 37E Ch. 10.5 - Prob. 38E Ch. 10.5 - Prob. 39E Ch. 10.5 - Prob. 40E Ch. 10.5 - Prob. 41E Ch. 10.5 - Prob. 42E Ch. 10.5 - Prob. 43E Ch. 10.5 - Prob. 44E Ch. 10.5 - Prob. 45E Ch. 10.5 - Prob. 46E Ch. 10.5 - Prob. 47E Ch. 10.5 - Prob. 48E Ch. 10.5 - Prob. 49E Ch. 10.5 - Prob. 50E Ch. 10.5 - Prob. 51E Ch. 10.5 - Prob. 52E Ch. 10.5 - Prob. 55E Ch. 10.5 - Prob. 56E Ch. 10.5 - Prob. 59E Ch. 10.5 - Prob. 60E Ch. 10 - Prob. 1RE Ch. 10 - Prob. 2RE Ch. 10 - Prob. 3RE Ch. 10 - Prob. 4RE Ch. 10 - Prob. 5RE Ch. 10 - Prob. 6RE Ch. 10 - Prob. 7RE Ch. 10 - Prob. 8RE Ch. 10 - Prob. 9RE Ch. 10 - Prob. 10RE Ch. 10 - Prob. 11RE Ch. 10 - Prob. 12RE Ch. 10 - Prob. 13RE Ch. 10 - Prob. 14RE Ch. 10 - Prob. 15RE Ch. 10 - Prob. 16RE Ch. 10 - Prob. 17RE Ch. 10 - Prob. 18RE Ch. 10 - Prob. 19RE Ch. 10 - Prob. 20RE Ch. 10 - Prob. 21RE Ch. 10 - Prob. 22RE Ch. 10 - Prob. 23RE Ch. 10 - Prob. 24RE Ch. 10 - Prob. 25RE Ch. 10 - Prob. 26RE Ch. 10 - Prob. 27RE Ch. 10 - Prob. 28RE Ch. 10 - Prob. 29RE Ch. 10 - Prob. 30RE Ch. 10 - Prob. 31RE Ch. 10 - Prob. 32RE Ch. 10 - Prob. 33RE Ch. 10 - Prob. 34RE Ch. 10 - Prob. 35RE Ch. 10 - Prob. 36RE Ch. 10 - Prob. 37RE Ch. 10 - Prob. 38RE Ch. 10 - Prob. 39RE Ch. 10 - Prob. 40RE Ch. 10 - Prob. 41RE Ch. 10 - Prob. 42RE Ch. 10 - Prob. 43RE Ch. 10 - Prob. 44RE Ch. 10 - Prob. 45RE Ch. 10 - Prob. 46RE Ch. 10 - Prob. 47RE Ch. 10 - Prob. 48RE Ch. 10 - Prob. 49RE Ch. 10 - Prob. 50RE Ch. 10 - Prob. 51RE Ch. 10 - Prob. 52RE Ch. 10 - Prob. 53RE Ch. 10 - Prob. 54RE Ch. 10 - Prob. 55RE Ch. 10 - Prob. 56RE Ch. 10 - Prob. 57RE Ch. 10 - Prob. 58RE Ch. 10 - Prob. 59RE Ch. 10 - Prob. 60RE Ch. 10 - Prob. 61RE Ch. 10 - Prob. 62RE Ch. 10 - Prob. 63RE Ch. 10 - Prob. 64RE Ch. 10 - Prob. 65RE Ch. 10 - Prob. 66RE Ch. 10 - Prob. 67RE Ch. 10 - Prob. 68RE Ch. 10 - Prob. 69RE Ch. 10 - Prob. 70RE Ch. 10 - Prob. 71RE Ch. 10 - Prob. 72RE

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