Mary is playing a game of chance in which she tosses a dart into a rotating...
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Mary is playing a game of chance in which she tosses a dart into a rotating dartboard with 8 equal-sized slices numbered 1 through 8. The dart lands on a numbered slice at random. This game is this: Mary tosses the dart once. She wins $1 if the dart lands in slice 1, $3 if the dart lands in slice 2, $5 if the dart lands in slice 3, $8 if the dart lands in slice 4, and $10 if the dart lands in slice 5. She loses $9 if the dart lands in slices 6, 7, or 8. (If necessary, consult a list of formulas.) (a) Find the expected value of playing the game. |dollars (b) What can Mary expect in the long run, after playing the game many times? O Mary can expect to gain money. She can expect to win dollars per toss. O Mary can expect to lose money. She can expect to lose | dollars per toss. O Mary can expect to break even (neither gain nor lose money). Mary is playing a game of chance in which she tosses a dart into a rotating dartboard with 8 equal-sized slices numbered 1 through 8. The dart lands on a numbered slice at random. This game is this: Mary tosses the dart once. She wins $1 if the dart lands in slice 1, $3 if the dart lands in slice 2, $5 if the dart lands in slice 3, $8 if the dart lands in slice 4, and $10 if the dart lands in slice 5. She loses $9 if the dart lands in slices 6, 7, or 8. (If necessary, consult a list of formulas.) (a) Find the expected value of playing the game. |dollars (b) What can Mary expect in the long run, after playing the game many times? O Mary can expect to gain money. She can expect to win dollars per toss. O Mary can expect to lose money. She can expect to lose | dollars per toss. O Mary can expect to break even (neither gain nor lose money).
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Related Book For
Probability and Random Processes With Applications to Signal Processing and Communications
ISBN: 978-0123869814
2nd edition
Authors: Scott Miller, Donald Childers
Posted Date:
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