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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 406 Weeks Ago, 3 Days Ago |
| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
At a gambling casino, a ball will be drawn from a bin containing 43 red balls, 27 green balls, and 8 blue balls. A player marks a game card with the color he or she believes will be picked. The prize money for guessing the correct color is
* Red: $3.00
* Green: $6.00
* Blue: $10.00
a. Find the expected value of the prize money.
b. If the price of the game card is $5.00 and 100 games are played in an evening, how much profit will the casino expect to make?
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