ZuoTi.Pro
Question

A bag contains 3 gold marbles, 8 silver marbles, and 21 black marbles. Someone offers to...

A bag contains 3 gold marbles, 8 silver marbles, and 21 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $4. If it is silver, you win $3. If it is black, you lose $1.

What is your expected value if you play this game?

math   Statistics-And-Probability   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

The expected value of game is $ 0.46875

0 0
Add a comment
Know the answer?
Add Answer to:
A bag contains 3 gold marbles, 8 silver marbles, and 21 black marbles. Someone offers to...
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. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Question 14 A bag contains 1 gold marbles, 8 silver marbles, and 26 black marbles. Someone...

    Question 14 A bag contains 1 gold marbles, 8 silver marbles, and 26 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $4. If it is silver, you win $2. If it is black, you lose $1. What is your expected value if you play this game?

  • A bag contains 1 gold marbles, 9 silver marbles, and 22 black marbles. Someone offers to...

    A bag contains 1 gold marbles, 9 silver marbles, and 22 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $3. If it is silver, you win $2. If it is black, you lose $1. What is your expected value if you play this game? Round to the 2nd decimal place

  • A bag of marbles contains 2 gold marbles, 10 silver marbles, and 30 black marbles. You...

    A bag of marbles contains 2 gold marbles, 10 silver marbles, and 30 black marbles. You decide to play the following game: Randomly select one marble from the bag. If it is gold, you win $5. If it is silver, you win $2. If it is black, you lose $2. What is the expected value if you play the game? Express losses as negative values and do not include the dollar sign in your answer. Round to the nearest cent.

  • A bag contains 4 gold marbles, 9 silver marbles, and 24 black marbles. The rules of...

    A bag contains 4 gold marbles, 9 silver marbles, and 24 black marbles. The rules of the game are as follows: You randomly select one marble from the bag. If it is gold, you win $4, if it is silver, you win $3. If it costs $1 to play, what is your expected profit or loss if you play this game?

  • 2. Kyd and North are playing a game. Kyd selects one card from a standard 52-card...

    2. Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects a face card (Jack, Queen, or King), North pays him $5. If Kyd selects any other type of card, he pays North $2. a) What is Kyd's expected value for this game? Round your answer to the nearest cent. $ b) What is North's expected value for this game? Round your answer to the nearest cent. $ c) Who has...

  • 1, Let's say our population distribution consisting of the number of credits of all current students...

    1, Let's say our population distribution consisting of the number of credits of all current students at a Community College this term is approximately normal. Let's assume that of all the college students, the average number of credits taken this term is 14.4 on average, with a standard deviation of 2.2361 credits. What is the probability that the average amongst a group of 25 students would be less than 13.8 credits? List the mean and standard deviation of your sampling...

  • a. A bag contains 3 black marbles, 6 blue marbles, and 4 green marbles. If a...

    a. A bag contains 3 black marbles, 6 blue marbles, and 4 green marbles. If a marble is drawn from the bag, replaced, and another marble is drawn, what is the probability of drawing first a black marble and then a green marble? Round to 4 decimal places    b. A bag contains 6 yellow marbles, 4 green marbles, and 3 blue marbles. If two different marbles are drawn from the bag , what is the probability of drawing first...

  • A bag contains 3 marbles: one black, one red and one orange. 2 marbles are selected...

    A bag contains 3 marbles: one black, one red and one orange. 2 marbles are selected from the bag. Let Event A={first selection}, and Event B={second selection}. Which of the following ensures Event A and Event B are independent events? after selecting the first marble, it is not placed back into the bag. after selecting the second marble, it is not placed back into the bag. after selecting the second marble, it is placed back into the bag. after selecting...

  • First bag contains 7 blue marbles , 6 green marbles and another bag contains 2 blue...

    First bag contains 7 blue marbles , 6 green marbles and another bag contains 2 blue marbles, 4 green marbles and 3 yellow marbles. We draw a random marble from first bag and and place it to the other bag. Then We draw a marble from the second bag randomly and keep this one. Calculate the probability that the marble we pick is green.

  • 7A bag contains 6 red marbles, 3 blue marbles, and 4 green marbles. If five marbles...

    7A bag contains 6 red marbles, 3 blue marbles, and 4 green marbles. If five marbles are randomly selected from the bag, what is the probability that (a) exactly three are red marbles. (b) there is no red marble. (Hint: use combinations)

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT