Answer questions 1 – 3. Do not need to show work.
1. One of the students in this class has created a game and would like for you to play. You have calculated that you will lose the game 45% of the time. At the same time you know that 30% of players will be paid $1 while 20% of players will be paid $2. It is calculated that all other players will receive the $100 prize. What is the expected value for this game? (Enter your solution as a decimal without using the dollar sign).
2. A bag contains 7 yellow Skittles and 3 red Skittles. A second bag contains 3 two-dollar bills and 2 fifty-dollar bill. You are instructed to reach into the first bag to draw one Skittle. If the Skittle is red, you may draw two bills from the second bag. If the Skittle is yellow, you may draw one bill from the second bag. What is the expected value for this game? (enter your answer as a decimal without using the dollar sign)
3. Another game involved drawing one card from a standard deck of cards. If you draw a red face card you earn $5. If you draw a black card you are paid $1. If you draw a red ace you will need to draw a second card from the deck (without replacing the first card). If your second card is red you win $80, if it is black you are paid nothing. All other outcomes earn nothing. What is the expected value for this game? (do not round decimals until you get to the final answer … then enter your answer rounded to the nearest penny – do not use the dollar symbol)
Looking for solution of this Assignment?
WHY CHOOSE US?
We deliver quality original papers |
Our experts write quality original papers using academic databases.We dont use AI in our work. We refund your money if AI is detected |
Free revisions |
We offer our clients multiple free revisions just to ensure you get what you want. |
Discounted prices |
All our prices are discounted which makes it affordable to you. Use code FIRST15 to get your discount |
100% originality |
We deliver papers that are written from scratch to deliver 100% originality. Our papers are free from plagiarism and NO similarity.We have ZERO TOLERANCE TO USE OF AI |
On-time delivery |
We will deliver your paper on time even on short notice or short deadline, overnight essay or even an urgent essay |