Racehorse A man buys a racehorse for $20,000 and enters it in two races. He plans to sell the horse after-ward, hoping to make a profit. If the horse wins both races, its value will jump to $100,000. If it wins one ofthe races, it will be worth $50,000. If it loses both races,it will be worth only $10,000. The man believes there’sa 20% chance that the horse will win the first race and a30% chance it will win the second one. Assuming thatthe two races are independent events, find the man’sexpected profit.
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
ward, hoping to make a profit. If the horse wins both
the races, it will be worth $50,000. If it loses both races,
it will be worth only $10,000. The man believes there’s
a 20% chance that the horse will win the first race and a
30% chance it will win the second one. Assuming that
the two races are independent events, find the man’s
expected profit.
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