Mathematics, 10.03.2020 02:05 bgallman153p71edg
In the carnival game Under-or-Over-Seven, a pair of fair dice is rolled once, and the resulting sum determines whether the player wins or loses his or her bet. For example, using method one, the player can bet $1.50 that the sum will be under 7, that is, 2, 3, 4, 5, or 6. For this bet, the player wins $1.50 if the result is under 7 and loses $1.50 if the outcome equals or is greater than 7. Similarly, using method two, the player can bet $1.50 that the sum will be over 7, that is, 8, 9, 10, 11, or 12. Here, the player wins $1.50 if the result is over 7 but loses $1.50 if the result is 7 or under. A third method of play is to bet $1.50 on the outcome 7. For this bet, the player wins $6.00 if the result of the roll is 7 and loses $1.50 otherwise.
a. Construct the probability distribution representing the different outcomes that are possible for a $3.00 bet using method 1.
b. Construct the probability distribution representing the different outcomes that are possible for a $3.00 bet using method 2.
c. Construct the probability distribution representing the different outcomes that are possible for a $3 bet using method two.
d. What is the expected long-run profit or loss to the player for each of the three methods of play?
Answers: 1
Mathematics, 21.06.2019 16:00, sharondot2398
Sam makes his sales calls according to a pattern. he travels either north or south depending on the calendar. some of his past trips were as follows: on february 17, april 24, june 10, september 19, and november 3 he drove north. on february 28, may 25, august 22, november 20, and december 18, he drove south. describe sams' pattern. in which direction will sam drive on oct4 and oct 24?
Answers: 1
In the carnival game Under-or-Over-Seven, a pair of fair dice is rolled once, and the resulting sum...
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