# 18, 31, 32, 33, 34

18. A game involves tossing two coins and receiving 50c if they are both heads. What is a fair price to pay for the privilege of playing? 19. Krinkles potato chips is having a "Lucky Seven Sweepstakes." The one grand prize is $70,000; 7 second prizes each pay $7,000; 77 third prizes each pay $700; and 777 fourth prizes each pay $70. What is the expectation of this contest, if there are 10 million entries? 20. A punch-out card contains 100 spaces. One space pays $100, five spaces pay $10, and the others pay nothing. How much should you pay to punch out one space? Level 2 What is the expectation for the $1 bets in Problems 21-30 on a U.S. roulette wheel? See Figure 13.8 on page 616. 21. Black 22. Odd 23. Single-number bet 24. Double-number bet 25. Three-number bet 26. Four-number bet 27. Five-number bet no 28. Six-number bet 29. Twelve-number bet 30. Column bet Consider the spinners in Problems 31-34. Determine which represent fair games. Assume that the cost to spin the wheel once is $5.00 and that you will receive the amount shown on the spinner after it stops. 31. 32. $8.00 $5.00 02 $2.00 $0 $10.00 33. 34. $8.00 $14.00 $8.00 $2.00 $2.00 $5.00 $4.00