Respuesta :
This is a fair game.
To find the expected value, we need to first multiply the fraction for each event by the outcome. Then, add all of the values together.
(1/6) x 0 = (1/2) x 40 + (1/3) x (-60)
0 + 20 + (-20) = 0
Since, the outcome is neither positive or negative, it is a fair game.
To find the expected value, we need to first multiply the fraction for each event by the outcome. Then, add all of the values together.
(1/6) x 0 = (1/2) x 40 + (1/3) x (-60)
0 + 20 + (-20) = 0
Since, the outcome is neither positive or negative, it is a fair game.
The game is fair, using the expected value to solve for the probability of wining or losing.
Meaning of probability and full working
Probability is the degree of occurrence of an event. it can also be said to be the chance for an event to occur.
The full working is shown below:
Probability of wining = probability of losing or gaining nothing
In a game you either lose or win that's what helps us to check if it is fair or not
probability of winning = [tex]\frac{3}{6}[/tex] = [tex]\frac{1}{2}[/tex]
probability of losing = [tex]\frac{2}{6}[/tex]
probability of gaining nothing = [tex]\frac{1}{6}[/tex]
[tex]\frac{1}{2}[/tex] = [tex]\frac{2}{6}[/tex] + [tex]\frac{1}{6}[/tex]
[tex]\frac{1}{2}[/tex] = [tex]\frac{1}{2}[/tex] (the chances are equal)
In conclusion, The game is fair, using the expected value.
Learn more about Probability: https://brainly.com/question/14868936
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