Question: 1) In a dart game, I win 5000 rupees when I hit the centre. Each chance cost me 1000 rupees. I will play if I

1) In a dart game, I win 5000 rupees when I hit the centre. Each chance cost me 1000 rupees. I will play if I am 90% sure that I will make profit. If probability of hitting the centre is 0.35, should I play this game? Explain your answer.

2) In another format of this dart game, I can win the jackpot of $10 million if I hit the centre for at least 5 times. Each chance costs me $5000, and I have $50,000 with me. Probability of hitting the target is same (0.35). I will only play this game when probability of my success is greater or equal to 0.92. Should I play this game? Explain your answer.

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