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A 4th degree polynomial will have at most 3 extreme values. Since the degree is even, there will be one global extreme, with possible multiplicity. The remainder, if any, will be local extremes that may be coincident with each other and/or the global extreme.
(The number of extremes corresponds to the degree of the derivative, which is 1 less than the degree of the polynomial.)
Answer:
The carnival is losing (on average) $0.15 on each play
Step-by-step explanation:
To find out how much the carnival wins or looses in each play one subtract the expected value (EV) from each play from the amount charged by the carnival for each play ($0.55). If the expected value is higher than what the carnival charges, the carnival is losing money.
Expected is the sum of the payouts of each bet multiplied by its likelihood:
Since the expected value is higher than $0.55, the carnival is losing money, on average, on each play:
The carnival is losing (on average) $0.15 on each play