Answer:
See explanation
Step-by-step explanation:
<h3 /><h3>Step 1</h3>
Miguel wins $2 is if he pulls two chips with the number 1.
<u>Probability of winning is:
</u>
- 2/4 * 1/3 = 1/6 as there are 4 chips in total
<u>
Probability of loosing is:</u>
<h3 /><h3>Step 2</h3>
<u>Missing values we found in the step 1, can be populated in the table:</u>
- Xi === 2 === -1
- P(Xi) === 1/6 === 5/6
<u>Expected Value as per table data:</u>
Expected value is $1/2 loss each time he plays
<h3 /><h3>Step 3</h3>
To make the game fair, the expected value should be zero.
<u>Then as per the calculation above, let's replace 2, with x, and find its value.</u>
- 1/6x + 5/6*(-1) = 0
- 1/6x = 5/6
- x= 5
So the amount should be $5 to make the game fair.
Answer:
500! Just multiply 5 x 1 then add the remaining 2 zeros :)
Step-by-step explanation:
Thank you!
215 is the answer because 78-35 =43 43×5=215
