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Jane has a bag with 8 balls numbered 1 through 8. She is playing a game of chance. 4 This game is this: Jane chooses one ball from the bag at random. She wins $1 if the number 1 is selected, $2 if the number 2 is selected, $5 if the number 3 is selected, $6 if the number 4 is selected, $8 if the number 5 is selected, and $10 if the number 6 is selected. She loses $13 if 7 or 8 is selected. (If necessary, consult a list of formulas.) (a) Find the expected value of playing the game. dollars (b) What can Jane expect in the long run, after playing the game many times? (She replaces the ball in the bag each time.) O Jane can expect to gain She can expect to win money. dollars per selection. O Jane can expect to lose money. She can expect to lose dollars per selection. O Jane can expect to break even (neither gain nor lose money).

Jane has a bag with 8 balls numbered 1 through 8. She is playing a game of chance. 4 This game is this: Jane chooses one ball from the bag at random. She wins $1 if the number 1 is selected, $2 if the number 2 is selected, $5 if the number 3 is selected, $6 if the number 4 is selected, $8 if the number 5 is selected, and $10 if the number 6 is selected. She loses $13 if 7 or 8 is selected. (If necessary, consult a list of formulas.) (a) Find the expected value of playing the game. dollars (b) What can Jane expect in the long run, after playing the game many times? (She replaces the ball in the bag each time.) O Jane can expect to gain She can expect to win money. dollars per selection. O Jane can expect to lose money. She can expect to lose dollars per selection. O Jane can expect to break even (neither gain nor lose money).

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter0: Preparing For Algebra
Section: Chapter Questions
Problem 62PRT
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Jane has a bag with 8 balls numbered 1 through 8. She is playing a game of chance. This game is this: Jane chooses one ball from the bag at random. She wins $1 if the number 1 is selected, $2 if the number 2 is selected, $5 if the number 3 is selected, $6 if the number 4 is selected, $8 if the number 5 is selected, and $10 if the number 6 is selected. She loses $13 if 7 or 8 is selected. (If necessary, consult a list of formulas.) (a) Find the expected value of playing the game. dollars (b) What can Jane expect in the long run, after playing the game many times? (She replaces the ball in the bag each time.) O Jane can expect to gain money. She can expect to win dollars per selection. O Jane can expect to lose money. She can expect to lose dollars per selection. O Jane can expect to break even (neither gain nor lose money).
Transcribed Image Text:Jane has a bag with 8 balls numbered 1 through 8. She is playing a game of chance. This game is this: Jane chooses one ball from the bag at random. She wins $1 if the number 1 is selected, $2 if the number 2 is selected, $5 if the number 3 is selected, $6 if the number 4 is selected, $8 if the number 5 is selected, and $10 if the number 6 is selected. She loses $13 if 7 or 8 is selected. (If necessary, consult a list of formulas.) (a) Find the expected value of playing the game. dollars (b) What can Jane expect in the long run, after playing the game many times? (She replaces the ball in the bag each time.) O Jane can expect to gain money. She can expect to win dollars per selection. O Jane can expect to lose money. She can expect to lose dollars per selection. O Jane can expect to break even (neither gain nor lose money).
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