subject
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?

ansver
Answers: 1

Another question on Mathematics

question
Mathematics, 21.06.2019 21:30
Write 5(6x+4)-2(5x-2) in the form a(bx+c) where a,b and c integers and a> 1
Answers: 2
question
Mathematics, 22.06.2019 01:30
In the figure below, m∠r is 60°, and m∠t is 120°. what is m∠q? a. 60° b. 30° c. 120° d. 54
Answers: 1
question
Mathematics, 22.06.2019 04:00
Xf(x) = 2x + 5 1 7 2 9 3 11 4 13 5 15 6 17 linear functions grow by equal differences over equal intervals. in the table above, what column could be added to prove this relationship?
Answers: 1
question
Mathematics, 22.06.2019 06:30
What is the slope-intercept of the linear function (3,5) and (2,1)
Answers: 1
You know the right answer?
In the carnival game Under-or-Over-Seven, a pair of fair dice is rolled once, and the resulting sum...
Questions
question
Computers and Technology, 15.02.2021 06:00
question
Social Studies, 15.02.2021 06:10
question
Mathematics, 15.02.2021 06:10
question
Mathematics, 15.02.2021 06:10
question
Mathematics, 15.02.2021 06:10
question
Biology, 15.02.2021 06:10
Questions on the website: 13722363