A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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85.7
A game has an expected value to you of $1900. It costs $1900 to play, but if you win, you receive
$100,000 (including your $1900 bet) for a net gain of $98,100. What is the probability of winning?
Would you play this game? Discuss the factors that would influence your decision.
The probability of winning is
(Type an integer or a decimal.)
Would you play this game? Discuss the factors that would influence your decision.
Since the probability of winning the game is (1).
play the game.
it (2)
worth it to
(1) O very high,
O 50-50,
does not seem
seems
very low,
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Transcribed Image Text:85.7 A game has an expected value to you of $1900. It costs $1900 to play, but if you win, you receive $100,000 (including your $1900 bet) for a net gain of $98,100. What is the probability of winning? Would you play this game? Discuss the factors that would influence your decision. The probability of winning is (Type an integer or a decimal.) Would you play this game? Discuss the factors that would influence your decision. Since the probability of winning the game is (1). play the game. it (2) worth it to (1) O very high, O 50-50, does not seem seems very low,
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