11) In a game, you have a your expected value? e as probability of winning 896...
In a game, you have a 1/28 probability of winning 125 dollars and a 27/28 probability of losing 5 dollars. ON AVERAGE, how much would you expect to win or loose playing this game? SELECT ALL APPLICABLE CHOICES A) E=−23.7E=−23.7 B) E=−0.357E=−0.357 C) E=12.3E=12.3 D) E=−20.4
Your probability of winning a game of chance is 0.4. If you play the game 3 times, what is the probability that you will win exactly 2 times?
7. Calculate the expected value of the following game. If you win the game, your wealth will increase by 36 times your wager. If you lose, you lose your wager amount. The probability of winning is 1/38. Calculate the variance of the game.
A game has an expected value to you of $800. It costs $200 to play, but if you win, you receive $100,000 including your $800 bot) for ane gain of $9.200. What is the probability of winning? Would you play this game? Discuss the factors that would influence your decision The probability of winning is (Type an integer or a decimal) Would you play this game? Do the factors that would influence your decision Since the probability of winning the...
Problem 1. You enter a chess tournament where your probability of winning a game is 0.54 against 20% the players (call them type 1), 0.31 against other 10% of the players (call them type 2), and 0.15 against the remaining 70% players (call them type 3) (a) You play a game against a randomly chosen opponent. What is the probability of winning? (b) Suppose that you were the winner of a game. What is the probability that your oppo- nent...
In the game of roulette, a player can place a $10 bet on the number 6 and have a 1/38 probability of winning. If the metal ball lands on 6, the player gets to keep the $10 paid to play the game and the player is awarded an additional $350. Otherwise, the player is awarded nothing and the casino takes the player's $10. What is the expected value of the game to the player? If you played the game 1000...
A game has an expected value to you of $2000. It costs $2000 to play, but if you win, you receive $100,000 (including your $2000 bet) for a net gain of $98,000. What is the probability of winning? Would you play this game? Discuss the factors that would influence your decision. The probability of winning is (Type an integer or a decimal.)
The odds of winning a game are given as 1:25. What is the probability that you will win this game? What is the probability that you will lose this game? Consider which number in the odds ratio needs to change and how it needs to change in order to increase the probability of winning.
A game has an expected value to you of $1700. It costs $1700 to play, but if you win, you receive $100,000 (including your $1700 bet) for a net gain of $98,300. What is the probability of winning?
Problem: A game gives you the probability .10 of winning on any 1 play. Plays are independent of each other. You play a total of 4 times. Let X represent the number of times you win. a) What is the probability that you don't win at all? b) what is the probability that you win at least once? c) what is the probability that you win once or twice? d) what is the expected value of X? What is the...