You are playing a card game. If you pull an Ace you win $26, if you pull the King of hearts you win $204, if you pull a jack or a queen you win $13, all other pulls you lose. What price should you be charged to make this a fair game?
$5
$7
$6
$8​

Answers

Answer 1

Using the expected value, it is found that a price of $6 should be charged to make it a fair game.

--------------------------

The game is fair if the expected value is 0.The expected value is given by each outcome multiplied by it's probability.A probability is the number of desired outcomes divided by the number of total outcomes.

In a standard deck, there are 52 cards.

The cost of x.

There are 4 Aces in a standard deck, thus [tex]\frac{4}{52}[/tex] probability of earning 26 - x.

There is 1 King of Hearts in a standard deck, thus [tex]\frac{1}{52}[/tex] probability of earning 204 - x.

There are 4 Jacks and 4 Queens in a standard deck, thus [tex]\frac{8}{52}[/tex] probability of winning 13 - x.

The other 39 cards you lose, thus [tex]\frac{39}{52}[/tex] probability of losing x.

Considering we want the expected value to be 0.

[tex]\frac{4}{52}(26 - x) + \frac{1}{52}(204 - x) + \frac{8}{52}(13 - x) - \frac{39}{52}x = 0[/tex]

[tex]\frac{4(26 - x) + 204 - x + 8(13 - x) - 39x}{52} = 0[/tex]

[tex]104 - 4x + 204 - x + 104 - 8x - 39x = 0[/tex]

[tex]52x = 312[/tex]

[tex]x = \frac{312}{52}[/tex]

[tex]x = 6[/tex]

$6 should be charged.

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a. is the value of the expression (1/4 ^-3)^-2 greater than 1 equal to 1 or less than 1
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A.

[tex]((1/4)^{-3})^{-2} = (1/4)^{(-3)*(-2)}=(1/4)^6<1[/tex]

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We can change -3 to 3 or -2 to 2.

This will result in:

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(a) The value of given expression "((1/4)⁻³)⁻²" is less than 1, and (b) To make value greater than 1, change second exponent to positive; to make it equal to 1, change first exponent to 0.

Part (a) : Starting from the innermost exponent, (1/4)⁻³ simplifies to 4³, which is 64.

So, ((1/4)⁻³)⁻² becomes (64)⁻², which is 1/4096. Since 1/4096 is less than 1, the value of the expression is less than 1.

Part (b) : To change the value to greater than 1:

Change the second exponent to a positive value, making it ((1/4)⁻³)²,

This simplifies to (4³)², which is 4096.

To change the value to equal 1:

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Step-by-step explanation:

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Answers

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Step-by-step explanation:

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Answers

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Answers

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Step-by-step explanation:

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Answers

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