Question

In a particular carnival game you pay $10 to play and select two cards. If both...

In a particular carnival game you pay $10 to play and select two cards. If both cards are face
cards you win $200. If the probability of selecting two face cards is .0498 what is
the expected value of the game to the player?
If the game is played 1000 times how much would you expect to win/lose?

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
You are trying to decide whether to play a carnival game that costs $1.50 to play....
You are trying to decide whether to play a carnival game that costs $1.50 to play. The game consists of rolling 3 fair dice. If the number 1 comes up at all, you get your money back, and get $1 for each time it comes up. So for example if it came up twice, your profit would be $2. The table below gives the probability of each value for the random variable X, where: X = profit from playing the...
A carnival game gives players a 10​% chance of winning every time it is played. A...
A carnival game gives players a 10​% chance of winning every time it is played. A player plays the game 10 times. A. Let X be the number of times the player wins in 10 plays. What is the most probable value of​ X?  B. what is the probability that the player will win at least once?
There is a game at the local carnival where you pay $1 for a chance to...
There is a game at the local carnival where you pay $1 for a chance to draw one card from a standard deck. If you draw an ace, you win $3.50 and if you draw a face card, you win $2. Otherwise you don’t win anything. Find the expected value to you for this game. Explain why it is or is not a good idea to play this game.
In the game of​ roulette, a player can place a ​$4 bet on the number 24...
In the game of​ roulette, a player can place a ​$4 bet on the number 24 and have a StartFraction 1 Over 38 EndFraction probability of winning. If the metal ball lands on 24​, the player gets to keep the ​$4 paid to play the game and the player is awarded an additional ​$140. ​ Otherwise, the player is awarded nothing and the casino takes the​ player's ​$4. What is the expected value of the game to the​ player? If...
n the game of​ roulette, a player can place a ​$1010 bet on the number 2121...
n the game of​ roulette, a player can place a ​$1010 bet on the number 2121 and have a StartFraction 1 Over 38 EndFraction 1 38 probability of winning. If the metal ball lands on 2121​, the player gets to keep the ​$1010 paid to play the game and the player is awarded an additional ​$350350. ​ Otherwise, the player is awarded nothing and the casino takes the​ player's ​$1010. What is the expected value of the game to the​...
Make a probability distribution function table for the game where x is the event, Payoff(x) is...
Make a probability distribution function table for the game where x is the event, Payoff(x) is the amount won/lost if event x occurs, and P(x) is the probability that event x occurs. The expected payoff (i.e., the amount you would win/lose on average per play after playing the game many times) is E. Find E for the game you chose. There are 16 cards placed face down on a table. On the face side, there are various prizes/losses written. One...
Lottery: I buy one of 200 raffle tickets for $10. The sponsors then randomly select 1...
Lottery: I buy one of 200 raffle tickets for $10. The sponsors then randomly select 1 grand prize worth $300, 2 second prizes worth $80 each, and 3 third prizes worth $40 each. Below is the discrete probability distribution for this raffle. Prize      P(x)      Grand 1/200 Second 2/200 Third 3/200 None 194/200 (a) Recognizing that I spent $10 to buy a ticket, determine the expected value of this raffle to me as a player. Round your answer to the nearest...
. A dice game is played as follows: you pay one dollar to play, then you...
. A dice game is played as follows: you pay one dollar to play, then you roll a fair six-sided die. If you roll a six, you win three dollars. Someone claims to have won a thousand dollars playing this game nine thousand times. How unlikely is this? Find an upper bound for the probability that a person playing this game will win at least a thousand dollars.
PROBLEM #2 Suppose you play a game in which a fair 6 sided die is rolled...
PROBLEM #2 Suppose you play a game in which a fair 6 sided die is rolled once. If the outcome of the roll (the number of dots on the side facing upward) is less than or equal to 4, you are paid as many dollars as the number you have rolled. Otherwise, you lose as many dollars as the number you have rolled. Let X be the profit from the game (or the amount of money won or lost per...
You win a game with probability 0.511. Each game you play is independent. If you play...
You win a game with probability 0.511. Each game you play is independent. If you play the game 10 times, What is the probability that you win 6 of the 10 times.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT