Question

Gene is playing a game with a bag of marbles. 3 of the marbles are blue, 4 are green, and 7 are yellow. See below for awarded prizes. $2 green $0.5 yellow $4 blue What is the expected cost (or payout for Gene's game?

Answer 1

Answer:

$23.5

Step-by-step explanation:

Gene is playing a game with a bag of marbles. If 3 of the marbles are blue, 4 are green, and 7 are yellow and awarded prices for the marbles are $2 green $0.5 yellow $4 blue, the expected payout for Gens game is expressed as shown;

If a blue marble costs $4, 3 blue marbles will cost 3*$4 = $12

If a green marble costs $2, 4 green marbles will cost 4*$2 = $8.0

If a yellow marble costs $0.5, 7 yellow marbles will cost 7*$0.5 = $3.5

Total payout for Gene's game will be the equivalent to $12+ $8 + $3.5 = $23.5.

Hence Gene expected cost will be $21.5