Question

Nicolás is a great bettor in the famous game of "rock, paper or scissors" and whenever...

Nicolás is a great bettor in the famous game of "rock, paper or scissors" and whenever he can, he tries to hunt bets with his friends. Carlos and Camila are two of them. Nicolás estimates that the next bet will be made with Carlos with a triple probability than he will do with Camila. If he faces Carlos, they will play 2 times, while if he faces Camila, they will play 3 times. In each bet, Nicolás pays $ 1.5 if he loses a game and will receive $ 1 if he wins it, regardless of whether he plays against Camila or Carlos. In all cases, Nicolás estimates that he will win each individual game with a probability of 60%. From the information above:

a. Find the probability function of the amount of money Nicolas can win or lose. Define the random variable X and the range values of the variable.

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
Many of you probably played the game “Rock, Paper, Scissors” as a child. Consider the following...
Many of you probably played the game “Rock, Paper, Scissors” as a child. Consider the following variation of that game. Instead of two players, suppose three players play this game, and let us call these players A, B, and C. Each player selects one of these three items—Rock, Paper, or Scissors—independent of each other. Player A will win the game if all three players select the same item, for example, rock. Player B will win the game if exactly two...
Using Java, write a program that allows the user to play the Rock-Paper-Scissors game against the...
Using Java, write a program that allows the user to play the Rock-Paper-Scissors game against the computer through a user interface. The user will choose to throw Rock, Paper or Scissors and the computer will randomly select between the two. In the game, Rock beats Scissors, Scissors beats Paper, and Paper beats Rock. The program should then reveal the computer's choice and print a statement indicating if the user won, the computer won, or if it was a tie. Allow...
A nine year old boy named Random Randy loves playing rock-paper-scissors. Random Randy, of course, plays...
A nine year old boy named Random Randy loves playing rock-paper-scissors. Random Randy, of course, plays either rock, paper or scissors each with the same probability of π = 1/3. His friend, Sammy Stats, likes to document when Randy plays "rock" each round of play. What is the fewest number of rounds Randy can play for the distribution of the number of times "rock" is played to be approximately normal?
You consider yourself a bit of an expert at playing rock-paper-scissors and estimate that the probability...
You consider yourself a bit of an expert at playing rock-paper-scissors and estimate that the probability that you win any given game is 0.4. In a tournament that consists of playing 60 games of rock-paper-scissors let X be the random variable that is the of number games won. Assume that the probability of winning a game is independent of the results of previous games. You should use the normal approximation to the binomial to calculate the following probabilities. Give your...
Suppose Agnieszka and Stephanie are playing rock, paper, scissors game. They choose their actions simultaneously. The...
Suppose Agnieszka and Stephanie are playing rock, paper, scissors game. They choose their actions simultaneously. The consequences are as follows: the one who loses has to grade all BUS1040 essays, the one who wins does not have to grade any exams. In case of a tie, they split the pile of BUS1040 essays equally for grading. Assuming that Agnieszka and Stephanie do not like grading exams, which answer is correct? a. There is no Nash Equilibrium in this game. b....
In a game of “Chuck a luck” a player bets on one of the numbers 1...
In a game of “Chuck a luck” a player bets on one of the numbers 1 to 6. Three dice are then rolled and if the number bet by the player appears i times (where i equals to 1, 2 or 3) the player then wins i units. On the other hand if the number bet by the player does not appear on any of the dice the player loses 1 unit. If x is the players’ winnings in the...
Ahmed plays a game where he tosses two balanced 4 sided-dice, each with faces labeled by...
Ahmed plays a game where he tosses two balanced 4 sided-dice, each with faces labeled by 1, 2, 3 and 4. He wins 2 points if the sum is 4. He wins 1 point if the sum is greater than 4. He loses k points if the sum is less than 4. i. Find the probability distribution sum. ii. Find the value of k which achieves the fairness of game. (i.e. The fairness is achieved if the game is not...
Joe Smith plays a betting game with his friends. He puts in one dollar to join...
Joe Smith plays a betting game with his friends. He puts in one dollar to join the game. If he wins the game, he gets $2. If he loses, he gets nothing, so his gain is –$1. Joe Smith is planning to play the game 100 times. The 100 outcomes will be independent of one another. Let Vi, i = 1, 2, ..., 100 be the 100 outcomes. Then each Vi has the same probability distribution: v -1 1 p(v)...
In the the casino game of roulette, players make bets based on a wheel with 38...
In the the casino game of roulette, players make bets based on a wheel with 38 numbered pockets (18 red pockets, 18 black pockets, and two green pockets, labeled 0 and 00). The wheel is then spun one direction and the ball is spun in the opposite direction. Eventually, the ball will land in one of the numbered pockets. The wheel is designed so that the ball has an equal chance of landing in any one of the pockets. Suppose...
Determine whether the following are binomial experiments. If not, explain which requirement is violated. If so,...
Determine whether the following are binomial experiments. If not, explain which requirement is violated. If so, state the distribution of the random variable in the scenario. A) Bob is playing a game at a carnival where he gets to play until he loses. The probability that he wins the game is 0.25. Assume he does not get better each better each time he plays. Let X count the number of games that Bob wins. B) Charlie flips a coin three...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT