aliviadushane
aliviadushane
14.04.2020 • 
Mathematics

(15 points) You and your brother will play a certain game 900 times. You bet one dollar per game. If you win, you win 5 dollars. If you lose, you lose the dollar. You have a 1 in 8 chance to win. (a) (3 points) On average, what is the net gain OF YOUR FRIEND of playing one game? Round your answer to the nearest cent. Think of this game as YOUR FRIEND picking a ticket from a box of 8 tickets. There is one ticket that will cause him to lose 5 dollars and 7 tickets that will cause him to win 1 dollar. Find the average of this box. (b) (6 points) How much does your friend expect to win/lose in 900 games? What is the standard error? (c) (6 points) Find the probability that your friend will win at least $200 in 900 games.

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