Asked Nov 8, 2019
In a carnival​ game, the player selects two coins from a bag containing three
silver dollars and six slugs.​ (Slugs are​ fake, worthless coins that look like real​ coins.) Write down the probability distribution for the winnings and determine how much the player would have to pay so that he would break​ even, on the​ average, over many repetitions of the game.

Expert Answer

Step 1

Given data

Three silver dollars and six slugs

Two coins are selected

Probability of winning both the silver coins is


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3 2 1 X 12 Probability of winning only one silver coins 2 cases Case 1- First coin silver and another slug Case 2- First slug and other silver Required probability is given by 1 3 X 9 6 3 =- 2 8 9 Probability of winning zero silver 5 5 6 12 X Ln

Step 2

Probability distrib...


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Probability distribution table Probability 1 Winning 2 silver dollars 12. 1 1 silver dollar 2 5 O dollar 12 Total Expectation is given by 1 1 x 12 1 E (x) xp(x) = 2 x - 0.667 2 The player should pay 0.667 to break even


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