Answer:
(a)The highest expected payout option 1
(b)1 and 3
(c)Option 1
Step-by-step explanation:
In this you just multiply the amount you are paid by chance if all are favorable to you, so in option 1 you would get $2,000 for each head you get on a flipped coin, so that would be 10*$2,000=$20,000 that's the highest paid, in the dice you get a maximum of 6 dots each, that would make $6,000*3=$18,000.
Rolling the dice can get you 5 scenarios where you don't get $6,000 when all three are lower than $6,000 which would be getting three 1's, two 1's and a 2, ot two 2's and a 1. That's why only option 3 and 1 are available for an almost certainity of getting $6,000
To know this you have to remember last problem, the getting $9,000 will never give you $16,000, and the dice would give you only 3 scenarios where you could end up winning $16,000 whihc would be getting all 6's, two 6's and a 5, or twop 5's and a 6, so your best option would be flipping the coin.
