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Answer:
Expected net earning X for this case is =$0.6923
Step-by-step explanation:
We need to calculate the probability of the case and multiply by the net earning. The Case is:
<u>the card is a Face card, and the coin lands on Heads</u><u>:</u>
<em>Net earning</em> = 9-3 =6
There are 12 Face Cards in a regular 52-card deck. Then,
<em>Probability of a Face Card</em>=
<em>Probability that the coin lands on Tails</em> =
Then <em>total probability of the case</em> is = ×
=
Expected net earning X for this case is = × 6 =
To solve this problem, set up and solve a system of equations. The variables b and m will represent a bread loaf and milk jug, respectively:
I would solve using substitution. Take one of the equations and set it equal to one of the variables, for example:
Now, plug this into the other equation for m and solve for b:
We now know that a loaf of bread costs $2.50. Plug this value in for b in the first equation and solve for m:
One jug of milk costs $1.50 and one loaf of bread costs $2.50.
I would solve using substitution. Take one of the equations and set it equal to one of the variables, for example:
Now, plug this into the other equation for m and solve for b:
We now know that a loaf of bread costs $2.50. Plug this value in for b in the first equation and solve for m:
One jug of milk costs $1.50 and one loaf of bread costs $2.50.