Question

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. The dart
lands on a numbered slice at random
This game is this: Teresa tosses the dart once. 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. She loses $5 if the dart lands in slices 6, 7, or 8.
(a) Find the expected value of playing the game.
dollars
(b) What can Teresa expect in the long run, after playing the game many times?
Teresa can expect to gain money.
She can expect to win dollars per toss.
Teresa can expect to lose money.
She can expect to lose dollars per toss.
Teresa can expect to break even (neither gain nor lose money).
I Don't Know
Submit
2022 McGraw HILLC All Rights Reserved Terms of Use
Privacy Center
Accessibil
g
5

Answer 1

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