Answered: 18. Many casinos have a game called the…

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter8: Sequences, Series, And Probability

Section8.6: Permutations And Combinations

Problem 4SC

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$18. Many casinos have a game called the Big Six Money Wheel, which has 54 slots. in which are displayed a Joker, the casino logo, and various dollar amounts, as shown in the table below. Denomination Number of slots $40 (Joker) 1 $40 (Casino logo) 1 $20 2 $10 4 $5 7 $2 15 $1 24 Players may bet on the Joker, the casino logo, or one or more dollar denominations. The wheel is spun and if the wheel stops on the same place as the player's bet, the player wins that amount for each dollar bet. Suppose a player bets $1 on the $10 denomination. Find the probability that the wheel stops on $10. (Enter your probability as a fraction.) How much money will the player win (in dollars) if the wheel stops on $10? Find the probability that the wheel does not stop on $10. (Enter your probability as a fraction.) How much money will the player lose (in dollars) if the wheel does not stop on $10? Find the player's expectation (in dollars). (Round your answer to two decimal places.)$

Transcribed Image Text:18. Many casinos have a game called the Big Six Money Wheel, which has 54 slots. in which are displayed a Joker, the casino logo, and various dollar amounts, as shown in the table below. Denomination Number of slots $40 (Joker) 1 $40 (Casino logo) 1 $20 2 $10 4 $5 7 $2 15 $1 24 Players may bet on the Joker, the casino logo, or one or more dollar denominations. The wheel is spun and if the wheel stops on the same place as the player's bet, the player wins that amount for each dollar bet. Suppose a player bets $1 on the $10 denomination. Find the probability that the wheel stops on $10. (Enter your probability as a fraction.) How much money will the player win (in dollars) if the wheel stops on $10? Find the probability that the wheel does not stop on $10. (Enter your probability as a fraction.) How much money will the player lose (in dollars) if the wheel does not stop on $10? Find the player's expectation (in dollars). (Round your answer to two decimal places.)

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