Question 1057935: Since I don't see a way to respond directly to a posted solution, I will ask that you check the posted solution to Question 601459. It appears that the solution includes an incorrect value as one of the possible outcomes, which is then used in the calculation of the answer, producing what appears to be an incorrect solution. The first prize is $4,000 but the answer lists it as $5,000 and then uses the $5,000 to calculate the expected winnings of $493.75.
Please check this and let me know. Thanks.
Answer by jim_thompson5910(35256)   (Show Source):
You can put this solution on YOUR website! It seems like a typo.
Instead of
(5000 + 1500 + 1000 + 1000 - 50*12)/16 = 493.75
it should be
(4000 + 1500 + 1000 + 1000 - 50*12)/16 = 431.25
So the expected winnings is 431.25 which is not that larger compared to $400.
So choice 1, where you take the $400 and not play the game, still seems like the better option.
|
|
|
