A Betting Game You roll a die. If an odd number comes up, you lose. If you...

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Basic Math

A Betting Game
You roll a die. If an odd number comesup, you lose. If you get a 6, you win $60. If it is an even numberother than 6, you get to roll again. If you get a 6 the secondtime, you win $36. If not, you lose.
(a) Construct a probability model forthe amount you win at this game. Explain briefly how you obtain theprobabilities associated with the different amounts of winning.
(b) How much would you be willing topay to play this game?
Chris Again!
A true-false test consists of 10items.
(a) If Chris does not study at all andguesses each and every item in the test, describe the probabilitymodel for the number of correct guesses.
(b) What is the probability that Chrisgets 80% or more for the test?
(c) If it is a 20 item true-falsetest, would you think it is easier or more difficulty for Chris toget 80% or more? Explain without performing any furthercalculation.

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3.9 Ratings (400 Votes)

A BettingGameaLet we bet xWe win 60 if we get a 6 the probability of getting 6 is16We win 36 if we get an even number other than 6 in first rolland 6 in the second roll Since the rolling of dice are independentevents the probability of getting 2 or 4 in the first event andgetting 6 in the second event isWe lose x amount if we did not get 6 in second See Answer

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