Concept explainers
Asymmetric method of sealed bids. Suppose that an estate consisting of M indivisible items is to be divided among N heirs
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Excursions In Modern Mathematics, 9th Edition
- In horse racing, a “trifecta” occurs when a bettor wins by selecting the first three finishers in the exact order (1 St place, 2nd place, and 3rd place). How many different trifectas are possible if there are 14 horses in a race?arrow_forwardUse the last diminisher method to solve the following problem. 1. A piece of property valued at $50,000 is divided among five players (P1, P2, P3, P4, P5) using the last diminisher method. The players play in a fixed order, with P1 first, P2 second, and so on. In round 1, P1 makes the first cut and makes a claim on a C-piece of the land. For each of the remaining players, the value of the current C-piece at the time it is their turn is given in the following table: Player 2 Player 3 Player 4 Player 5 Value of $12,000 $13,000 $9,000 $8,000 current C-piece a.) What is the fair share for each player? Show your work in the space provided below. b.) What does player 2 do with the piece and why? c.) What does player 3 do with the piece and why? d.) What does player 4 do with the piece and why? e.) What does player 5 do with the piece and why? f.) Who gets the piece at the end of round 1 and why is it that person? g.) What is the value of the piece?arrow_forwardUse the last diminisher method to solve the following problem. A piece of property valued at $50,000 is divided among five players (P1, P2, P3, P4, PS) using the last diminisher method. The players play in a fixed order, with P1 first, P2 second, and so on. In round 1. P1 makes the first cut and makes a claim on a C-piece of the land. For each of the remaining players, the value of the current C-piece at the time it is their turn is given in the following table:arrow_forward
- ten percent of adults say oatmeal is their favorite cookie. You randomly select 12 adults and aks each to name his or her favorite cookie. find the probaility that the number who say oatmeal raisin is their favorite cookie is exactly four.arrow_forwardEx: Problem: Among a set of 5 black balls and 3 red balls, how many selections of 5 balls can be made such that at least 3 of them are black balls.arrow_forwardOne group (A) contains 120 people. One-fifth of the people in the group A will be set elected to win $100 fuel cards. There is another group (B) in another nearby town that will receive the same number of fuel cards, but there are 211 people in that group. What will be the ration of nonwinners in a group A to nonwinners in group B after the selections are made? Express your ration as a fraction or with a colon.arrow_forward
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- 4. S V1 – 7w2dw -arrow_forwardYour friend comes to you offering to play a game. In this game, you would pay to enter and then they would toss a fair coin up to 4 times. The game continues as long as a Head is tossed, but it ends early if ever a Tail is tossed. Your friend offers to pay you 2n dollars, where n is the number of heads tossed in a row before the game ends. The payouts of the game are as follows: If the first toss is a tail then the game ends early, and with n=0 so you are paid 1 dollar. If the first toss is Head and the second toss is Tail the game ends early, and with n=1 you get paid 2 dollars. If the first two tosses are Head and the third toss is Tail, the game ends early, and with n=2 you get paid 4 dollars. If the first three tosses are Head and the fourth is Tail then the maximum number of tosses has been reached, so you end the game with n=3 and get paid 8 dollars. If all four tosses are Heads then the maximum number of tosses has been reached, so you end the game with n=4 and get paid 16…arrow_forwardP(2 defective)=arrow_forward
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