Can someone please explain it to me all of it? ASAP??!!! A game of chance and the expected valueObjective: Construct a probability distribution and use it to find the expected value of the game.Introduction: Here's the game: there are two boxes with four balls each. To play, you put on ablindfold and then pick one ball at random from each box.There are two red, one blue and one green ball in the box on the left. There are two blue, one redand one green ball in the box on the right.Payouts:$0 if the balls are different colors,$0.50 if they are both red,$1 if they are both blue, and$16 if they are both green.Question:If the game costs $1 to play, would you expect to gain or lose money on average? And howmuch?In your solution, you must show:How you compute the probability that payout is $0.How you compute the probability that payout is $0.50.How you compute the probability that payout is $1.How you compute the probability that payout is $16.Summarize the data into a probability table.Compute the expected value.Remember to account for the $1 you pay to play the game.Your conclusion.

From the given information, There are two boxes with four balls each. Select one ball at random from…

Answered: Objective: Construct a probability…

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter14: Counting And Probability

Section14.FOM: Focus On Modeling: The Monte Carlo Method

Problem 3P: Dividing a JackpotA game between two players consists of tossing a coin. Player A gets a point if...

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Dividing a JackpotA game between two players consists of tossing a coin. Player A gets a point if the coin shows heads, and player B gets a point if it shows tails. The first player to get six points wins an 8,000 jackpot. As it happens, the police raid the place when player A has five points and B has three points. After everyone has calmed down, how should the jackpot be divided between the two players? In other words, what is the probability of A winning and that of B winning if the game were to continue? The French Mathematician Pascal and Fermat corresponded about this problem, and both came to the same correct calculations though by very different reasonings. Their friend Roberval disagreed with both of them. He argued that player A has probability 34 of winning, because the game can end in the four ways H, TH, TTH, TTT and in three of these, A wins. Robervals reasoning was wrong. a Continue the game from the point at which it was interrupted, using either a coin or a modeling program. Perform the experiment 80 or more times, and estimate the probability that player A wins. bCalculate the probability that player A wins. Compare with your estimate from part a.
Flexible Work Hours In a recent survey, people were asked whether they would prefer to work flexible hours----even when it meant slower career advancement----so they could spend more time with their families. The figure shows the results of the survey. What is the probability that three people chosen at random would prefer flexible work hours?
Dividing a Jackpot A game between two pIayers consists of tossing coin. Player A gets a point if the coin shows heads, and player B gets a point if it shows tails. The first player to get six points wins an $8000 jackpot. As it happens, the police raid the place when player A has five points and B has three points. After everyone has calmed down, how should the jackpot be divided between the two players? In other words, what is the probability of A winning (and that of B winning) if the game were to continue? The French mathematicians Pascal and Fermat corresponded about this problem, and both came to the same correct conclusion (though by very different reasoning's). Their friend Roberval disagreed with both of them. He argued that player A has probability of Winning, because the game can end in the four ways H, TH, TTH, TTT, and in three of these, A wins. Roberval’s reasoning was wrong. Continue the game from the point at which it was interrupted, using either a coin or a modeling program. Perform this experiment 80 or more times, and estimate the probability that player A wins. Calculate the probability that player A wins. Compare with your estimate from part (a).

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Objective: Construct a probability distribution and use it to find the expected value of the game. Introduction: Here's the game: there are two boxes with four balls each. To play, you put on a blindfold and then pick one ball at random from each box.