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A "friend" offers you the following "deal". For a $10 fee, you may pick an envelope from a box containing 100 seemingly identical envelopes, each of which contains a cash prize. 75 of the envelopes contain $4 22 of the envelopes contain $9 • 3 of the envelopes contain $100 Over the long run of playing this game, what are your expected average winnings per game? N-$1.78

A "friend" offers you the following "deal". For a $10 fee, you may pick an envelope from a box containing 100 seemingly identical envelopes, each of which contains a cash prize. 75 of the envelopes contain $4 22 of the envelopes contain $9 • 3 of the envelopes contain $100 Over the long run of playing this game, what are your expected average winnings per game? N-$1.78

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.4: Expected Value
Problem 15E: A Game of Chance A box contains 100 envelopes. Ten envelopes contain $10 each, ten contain $5 each,...
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Please see below. Really need this asap please and thank you. I'm not certain of the answer I got. Note that both questions go together.
A "friend" offers you the following "deal". For a $10 fee, you may pick an envelope from a box containing 100 seemingly identical envelopes, each of which contains a cash prize. • 75 of the envelopes contain $4 • 22 of the envelopes contain $9 • 3 of the envelopes contain $100 Over the long run of playing this game, what are your expected average winnings per game? O-$1.70 $8.30 $42.00 $7.98 -$2.15 $11.50 -$2.02 $13.00
Transcribed Image Text:A "friend" offers you the following "deal". For a $10 fee, you may pick an envelope from a box containing 100 seemingly identical envelopes, each of which contains a cash prize. • 75 of the envelopes contain $4 • 22 of the envelopes contain $9 • 3 of the envelopes contain $100 Over the long run of playing this game, what are your expected average winnings per game? O-$1.70 $8.30 $42.00 $7.98 -$2.15 $11.50 -$2.02 $13.00
Should you play the game in the previous question? Why or why not? Paragraph В I
Transcribed Image Text:Should you play the game in the previous question? Why or why not? Paragraph В I
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