Concept explainers
Monopoly is “the most played board game in the world,” according to Hasbro, its manufacturer. Players take turns moving around the board, according to a roll of a pair of dice. The board consists of
This game can be analyzed by using Markov chains. There are
HINT: The probabilities of moving from “Go” to Mediterranean Avenue, Community Chest, Baltic Avenue, Income Tax, Reading Railroad, or Oriental Avenue are each
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Chapter 11 Solutions
Bundle: Mathematics: A Practical Odyssey + WebAssign Printed Access Card for Johnson/Mowry's Mathematics: A Practical Odyssey, 8th Edition, Single-Term
- Mickey and Minnie are playing a game. They spin a spinner that has 11 equally sized pieces, 3 red, 2 blue, 1 green and 5 yellow. If the spinner lands on yellow, Minnie wins $7. If it lands on blue, Minnie wins $ 4. If it lands on any other section, Minnie loses money. In order for the game to be fair, Minnie must lose $ Blank 1. Calculate the answer by read surrounding text. ifarrow_forwardXYZ company has designed a new lottery scratch-off game. The player is instructed to scratch off one spot: A, B, or C. A can reveal "loser," "win $1," or "win $50." B can reveal "loser" or "take a second chance." C can reveal "loser," or "win $500." On the second chance, the player is instructed to scratch off D or E. D can reveal "loser" or "win $1." E can reveal "loser" or "win $10." The probabilities at A are 0.9, 0.09, and 0.01 respectively. The probabilities at B are 0.8 and 0.2. The probabilities at Care 0.999 and 0.001. The probabilities at D are 0.95 and 0.05. The probabilities at E are 0.5 and 0.5. Calculate the expected value of the game and provide recommendations to a decision-makerarrow_forwardA new game is being introduced at the Hard Rock Cafe. A ball is spun around a wheel until it comes to rest in one of many spots. Whatever is listed in that spot will be the player's winnings. If the wheel has 16 spots labeled $1, 9 spots labeled $2, and 7 spots labeled $10, how much should a player expect to win on average? Round to the nearest cent.arrow_forward
- The new england patriorts and the dallas cowboys are playing. what are the possible outcomesarrow_forwardA technology store holds a contest to attract shoppers. works: An ace and four other cards are shuffled and placed face down on a table. The customer gets to turn over cards one at a time, looking for the ace. The person wins $100 of store credit if the ace is the first card, $50 if it is the second card, and $20, $10, or $5 if it is the third, fourth, or last card chosen. What is the average dollar amount of store credit given away in the contest? Estimate with a simulation of 10 trials. Once an hour, someone at checkout is chosen at random to play in the contest Here's how it 67819 00354 91439 91073 49258 15992 41277 75111 67496 68430 09875 08990 27656 15871 23637 00952 97818 64234 50199 05715arrow_forwardYou are playing a game in which a single die is rolled. If a 2 or a 5 come up, you win $60; otherwise, you lose $3. What is the price that you should pay to play the game that would make the game fair?arrow_forward
- The Ontario Lottery Group has recently started allowing betting on the outcomes of games of the Canadian Calvinball League. It costs $10 to purchase a ticket, and you must successfully determine the outcome of the night's games. Tonight the games are Oakville Owlbears Brampton Beholders Whitby Wyverns vs Vs Mississauga Mind Flayers Guelph Githyanki Kitchener Kuo-Toa VS You will win 3k – 1 dollars for correctly determining the outcome of k matches. Question 1 Assuming all teams are equally matched, what are your expected net winnings? Note that your net winnings are the difference between what you paid to play and what you won. Hence your winnings can be negative if you lose money. Question 2 Per the rules of Calvinball, the team whose name occurs first alphabetically has an advantage and is twice as likely to win their game. Assuming you bet on the more likely winner in each game, what are your expected value net winnings? Question 3 You have a friend who plays for the Whitby Wyverns.…arrow_forwardJane is playing a carnival game. She is blindfolded while she throws a dart at a board of 12 balloons, as shown below. Each balloon is labeled "S" for small, "M" for medium, "L" for large, or "XL" for extra-large. The board has 1 small balloon, 2 medium balloons, 2 large balloons, and 7 extra-large balloons. She hits one of the balloons at random and wins a stuffed animal of that size. XL XL XL M XL L XL 000 XL M XL (a) Find the odds in favor of Jane winning an exa-large stuffed animal. 0:0 O to O (b) Find the odds against Jane winning an extra-large stuffed animal. Continue Submit Assign Ac O 2021 McGraw-Hill Education. All Rights Reserved. Terms of Use Privacy MAR W 11 00arrow_forwardLena is playing a carnival game. She is blindfolded while she throws a dart at a board of 12 balloons, as shown below. Each balloon is labeled "S" for small, "M" for medium, "L" for large, or "XL" for extra-large. The board has 1 small balloon, 8 medium balloons, 2 large balloons, and 1 extra-large balloon. She hits one of the balloons at random and wins a stuffed animal of that size. M M XL M I M M (a) Find the odds in favor of Lena winning a large stuffed animal. 믐 O to O 0:0 (b) Find the odds against Lena winning a large stuffed animal. Oarrow_forward
- Maria is playing a carnival game. She is blindfolded while she throws a dart at a board of 12 balloons, as shown below. Each balloon is labeled "S" for small, "M" for medium, "L" for large, or "XL" for extra-large. The board has 5 small balloons, 1 medium balloon, 4 large balloons, and 2 extra-large balloons. She hits one of the balloons at random and wins a stuffed animal of that size. L M XL Explanation (a) Find the odds against Maria winning a medium stuffed animal. XL (b) Find the odds in favor of Maria winning a medium stuffed animal. Check hp olo X □ to S Ⓒ2022 McGraw Hill LLC. All Rights Reserved Terms of Use | Privacy Center Accessibiarrow_forwardA restaurant hands out a scratch-off game ticket with prizes being worth purchases at the restaurant.arrow_forwardYou go to a casino and play a game. You throw a fair 4 sided die whose sides are labeled 1, 2, 3 and 4. If you land on a 1, you get $30. If you land on a 2, you get $10. If you land on either a 3 or a 4, you owe the casino $8. If you play this game repeatedly, what would your "winnings" be on average, in dollars?arrow_forward
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