Given that Teresa has a 5 out of 8 chance of making a profit, and an expected value of $1.50 in profit each turn, in the long run she has a better chance of making money than losing it.

Given that Teresa is playing a game of chance in which she tosses a dart into a rotating dartboard with 8 equal-sized slices numbered 1 through 8, and the dart lands on a numbered slice at random, and this game is this: Teresa tosses the dart once, and she wins $1 if the dart lands in slice 1, $3 if the dart lands in slice 2, $5 if the dart lands in slice 3, $8 if the dart lands in slice 4, and $10 if the dart lands in slice 5, but she loses $5 if the dart lands in slices 6, 7, or 8, to find the expected value of playing the game, and determine what can Teresa expect in the long run, after playing the game many times, she must perform the following calculation:

(1 + 3 + 5 + 8 + 10 - 5 - 5 - 5) / 8 = X
12 / 8 = X
1.5 = X

Therefore, given that Teresa has a 5 out of 8 chance of making a profit, and an expected value of $1.50 in profit each turn, in the long run she has a better chance of making money than losing it.

Learn more about maths in brainly.com/question/15605256

3 0

2 years ago