Question

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?

Answer #1

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 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 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 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 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 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 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 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
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 the game 10 times, What is the probability
that you win 6 of the 10 times.

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