SOLUTION: A bag contains 5 gold marbles, 8 silver marbles, and 26 black marbles. The rules of the game are as follows: You randomly select one marble from the bag. If it is gold, you win $5,
Algebra.Com
Question 1149017: A bag contains 5 gold marbles, 8 silver marbles, and 26 black marbles. The rules of the game are as follows: You randomly select one marble from the bag. If it is gold, you win $5, if it is silver, you win $3. If it costs $1 to play, what is your expected profit or loss if you play this game?
Answer by greenestamps(13200) (Show Source): You can put this solution on YOUR website!
P(gold) = 5/39
P(silver) = 8/39
P(black) = 26/39
Expected value:
=
=
The game has an expected profit of +10/39 dollars per play.
RELATED QUESTIONS
A bag contains 4 gold marbles, 9 silver marbles, and 23 black marbles. The rules of the... (answered by greenestamps)
A bag contains 3 gold marbles, 7 silver marbles, and 22 black marbles. The rules of the... (answered by ikleyn)
A bag contains 3 gold marbles, 10 silver marbles, and 29 black marbles. The rules of the... (answered by ikleyn)
A bag contains 1 gold marbles, 8 silver marbles, and 25 black marbles. Someone offers to... (answered by ikleyn)
A bag contains 3 gold marbles, 8 silver marbles, and 20 black marbles. Someone offers to... (answered by ikleyn)
A bag contains 1 gold marbles, 8 silver marbles, and 21 black marbles. Someone offers to... (answered by math_tutor2020)
Expected Value
A bag contains 2 gold marbles, 7 silver marbles, and 23 black marbles.... (answered by jorel555)
A bag contains 2 gold marbles, 6 silver marbles, and 30 black marbles. Someone offers to... (answered by jorel1380)
A bag contains 2 gold marbles, 10 silver marbles, and 21 black marbles. Someone offers to (answered by ikleyn)