Imagine a friend invites you to play a game of chance that costs $1 to play...
Imagine a friend invites you to play a game of chance that costs $1 to play each time. You get to choose one card. You win if your card is the Ace of Spades. Otherwise, you lose. The amount of money you could win is $(40 + the day of your birth). For example, if you were born on July 4th, you could win $40 + $4 = $44 if you chose the Ace of Spades in your draw. What is the expected value of the amount you will win from each turn? Would it be a good idea to play this game only one time? Would it be a good idea to play 1,000 times, assuming the card you chose is replaced and the deck is reshuffled on each play? Feb 6 is my birthday
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Imagine a friend invites you to play a game of chance that costs
$1 to play...
2. You are playing a game where you chose a card at random from a standard...
2. You are playing a game where you chose a card at random from a standard deck of 52 cards. If the card chosen is a face card then you win $3. If the card is not a face card then you pay $1. There are 12 face cards in the deck. (a) How much money would you expect to win or lose each time you play the game? (b) If you wanted to make the answer to part a)...
A casino game costs $5 to play. If you draw first a red card, then you...
A casino game costs $5 to play. If you draw first a red card, then you get to draw a second card. If the second card is the ace of hearts, you win $500. If not, you don't win anything, i.e. lose your $5. What is your expected profits (or losses) from playing this game? Remember: profit (or loss) = winnings - cost.
It costs $6.25 to play a very simple game, in which a dealer gives you one...
It costs $6.25 to play a very simple game, in which a dealer gives you one card from a deck of 52 cards. If the card is a heart, spade, or diamond, you lose. If the card is a club other than the queen of clubs, you win $10.00. If the card is the queen of clubs, you win $48.50. The random variable x represents your net gain from playing this game once, or your winnings minus the cost to...
Consider a play of the casino game `Quick Draw'. In this game, a player pays $11...
Consider a play of the casino game `Quick Draw'. In this game, a player pays $11 to play. The player picks one card from a standard pack of 52 cards (i.e. there are four A’s and four K’s in a standard pack of 52 cards). If the player gets an Ace, they win $50 but loose the amount they paid to play (the profit is revenue minus cost); if the player selects a King, they win $30 but loose the...
7. Uncle Sam invites you to draw a card from a full deck of playing cards....
7. Uncle Sam invites you to draw a card from a full deck of playing cards. You must pay $2 to play but you have a chance to win S13 if you draw an a (a) (4 points) Complete the following table. ce. (2) エ, your net winning probability of your net winning (b) (2 points) Find the expected value for each draw.
Program 4: C++ The Game of War The game of war is a card game played by children and budding comp...
Program 4: C++ The Game of War The game of war is a card game played by children and budding computer scientists. From Wikipedia: The objective of the game is to win all cards [Source: Wikipedia]. There are different interpretations on how to play The Game of War, so we will specify our SMU rules below: 1) 52 cards are shuffled and split evenly amongst two players (26 each) a. The 26 cards are placed into a “to play” pile...
3. In a certain game of chance, you have a 3/4 chance of winning each time...
3. In a certain game of chance, you have a 3/4 chance of winning each time you play with the outcomes each time you play independent of each other). Suppose you play the game until you win for the first time. What is the probability you will win the game on the first second, or third time playing it? 4. A box of 40 fuses contains 10 fuses which are defective. If you randomly choose a collection of 5 fuses...
how do you solve with work? 3. Uncle Sam invites you to draw a card from...
how do you solve with work?
3. Uncle Sam invites you to draw a card from a full deck of playing cards. You must pay $2 to play but you have a chance to win $13 if you draw an ace. (a) (4 points) Complete the following table for the house. P(2), your net winning probability of your net winning (b) (2 points) Find the expected value for each draw for the house. (b) 4. You pay $5 and select...
How to solve this using statcrunch You draw a card from a deck. If you get...
How to solve this using
statcrunch
You draw a card from a deck. If you get a red card, you win nothing. If you get a spade, you win $11. For any club, you get $20 plus an extra $50 for the ace of clubs. a) Create a probability model for the amount you win at this game. b) Find the expected amount you'll win. c) How much would you be willing to pay to play this game? red any...
Suppose you make a dollar bet on a game in which there is a 1 in 5 chance to win
Suppose you make a dollar bet on a game in which there is a 1 in 5 chance to win. If you win, you win two dollars. On average, you will lose playing this game and each play costs you _______ cents. If you play 200 times, you can expect to lose around _______ dollar .You play roulette betting one dollar on the number 5 each time. The bet pays 35 to 1. You have a 1 in 38 chance to...
2. You are playing a game where you chose a card at random from a standard deck of 52 cards. If the card chosen is a face card then you win $3. If the card is not a face card then you pay $1. There are 12 face cards in the deck. (a) How much money would you expect to win or lose each time you play the game? (b) If you wanted to make the answer to part a)...
7. Uncle Sam invites you to draw a card from a full deck of playing cards. You must pay $2 to play but you have a chance to win S13 if you draw an a (a) (4 points) Complete the following table. ce. (2) エ, your net winning probability of your net winning (b) (2 points) Find the expected value for each draw.
3. In a certain game of chance, you have a 3/4 chance of winning each time you play with the outcomes each time you play independent of each other). Suppose you play the game until you win for the first time. What is the probability you will win the game on the first second, or third time playing it? 4. A box of 40 fuses contains 10 fuses which are defective. If you randomly choose a collection of 5 fuses...
how do you solve with work?
3. Uncle Sam invites you to draw a card from a full deck of playing cards. You must pay $2 to play but you have a chance to win $13 if you draw an ace. (a) (4 points) Complete the following table for the house. P(2), your net winning probability of your net winning (b) (2 points) Find the expected value for each draw for the house. (b) 4. You pay $5 and select...
How to solve this using
statcrunch
You draw a card from a deck. If you get a red card, you win nothing. If you get a spade, you win $11. For any club, you get $20 plus an extra $50 for the ace of clubs. a) Create a probability model for the amount you win at this game. b) Find the expected amount you'll win. c) How much would you be willing to pay to play this game? red any...
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