You are playing a game in which a single die is rolled. If a 2 or a 5 come up, you win $60; otherwise, you lose $3. What is the price that you should pay to play the game that would make the game fair?
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You are playing a game in which a single die is rolled. If a 2 or a 5 come up, you win $60; otherwise, you lose $3. What is the price that you should pay to play the game that would make the game fair?
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- You are playing a game in which a single die is rolled. If a 2 or a 5 comes up, you win $60; otherwise, you lose $3. What is the price that you should pay to play the game that would make the game fair?A game consists of rolling a colored die with three red sides, two green sides, and one blue side. A roll of red loses. A roll of green pays $2.00. A roll of blue pays $5.00. The charge to play the game is $2.00. Would you play the game? Why or why not?You are playing a card game. If you pull an Ace you win $86, if you pull the King of hearts you win $448, if you pull a jack or a queen you win $12, all other pulls you lose. What price should you be charged to make this a fair game? Round your answer to the nearest hundredth.
- You need to borrow money for gas, so you ask your mother and your sister. You can only borrow money from one of them. Before giving you money, they each say they will make you play a game. Your sister says she wants you to roll a six-sided die. She will give you $5 times the number that appears on the die. Your mother says she wants you to flip a fair coin. She will give you $11 for heads and $19 for tails. Determine the expected value of each game and decide which offer you should take. Answer Кeypad Keyboard Shortcuts Expected value for your sister's game: $ Expected value for your mother's game: $ Which offer should you take? O your sister's offer O your mother's offerA game costs $2.00 to play. In the game, the player picks a card at random from a standard deck of cards. If the card is a face card, the player receives $6.00, if the card is not a face card, the player receives nothing.If a person rolls doubles when tossing two dice, the roller profits $ 65 , that is, the roller receives $ 65 more than the cost of the game. If the game is fair, how much should the person pay to play the game?
- At the Step Right Up carnival, a game is played where three coins are tossed: a quarter, a dime, and a nickel. The game costs $2 to play. If the three coins all come up heads, you win $5. If at least 30 cents come up heads, you win $2. Otherwise, you lose. Is this a fair game?Suppose you play a game where you roll 2 six-sided dice. If you roll a 7, you will lose some money, but if you roll anything else you will win 100. How much money would you have to lose in order for you average 0 per roll?You need to borrow money for gas, so you ask your mother and your sister. You can only borrow money from one of them. Before giving you money, they each say they will make you play a game. Your sister says she wants you to flip a fair coin. She will give you $9 for heads and $21 for tails. Your mother says she wants you to roll a six-sided die. She will give you $5 times the number that appears on the die. Determine the expected value of each game and decide which offer you should take.
- 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…In this game, two chips are placed in a cup. One chip has two red sides and one chip has a red and a blue side. The player shakes the cup and dumps out the chips. The player wins if both chips land red side up and loses if one chip lands red side up and one chip lands blue side up. The cost to play is $4 and the prize is worth $6. Is this a fair game.A restaurant hands out a scratch-off game ticket with prizes being worth purchases at the restaurant.