Answered: ever, you win ₱300 for anything else.…

Name: You play a game where you roll two dice. It was decided that you lose
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Description: You play a game where you roll two dice. It was decided that you lose ₱500 if you get a sum of 3, 6, or 9, and you lose ₱400 if you get a sum of 10. However, you win ₱300 for anything else. If you continue to play the game, how much do you expect to

Math

Probability

ever, you win ₱300 for anything else. If you continue to play the game, how much do you expect to win or lose in the gam

PREALGEBRA

15th Edition

ISBN:9781938168994

Author:OpenStax

Publisher:OpenStax

Chapter9: Math Models And Geometry

Section9.2: Solve Money Applications

Problem 79E: In the table used to solve coin problems, one column is labeled number and another column is labeled...

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Billy and Joe are buddies that think they can outsmart the casino by splitting each other’s profits. They decided to play a game by the name of Baccarat. They both have $1200 and their goal is to leave once they double their money. In Baccarat, the Banker's or Player’s hand will win 45% of the time. Ties win 10% of the time. The goal in baccarat is to have the hand you’re betting on, either the player or the banker, be the best hand of the two dealt. The winning hand is the one with a score where the final digit is the closest to nine. Face cards are worth zero, and aces count as one. There are 8 decks in a shoe. Billy and Joe came up with a betting strategy/sequence and assigned “teams”. Billy will ALWAYS bet on “Player” whereas Joe will always bet on “Banker”. The sequence goes as follows: Billy: 12113 Joe: 21221Billy: $100, $200, $100, $100, $300 = $900Joe: $200, $100, $200, $200, $100 = $900The remaining $300 that Billy and Joe have will go towards taking turns on betting $5 on the…