Help with a math probability question please?
There are 3 red balls, 5 green balls, and
1 yellow ball in a hat. If you draw the yellow ball, you gain $10. If you draw any of the red balls, you gain $4. If you draw a green ball, you lose $3. If you were to play this game 25 times, replacing the drawn ball each time, how much money can you expect to gain or lose?
Thank you :)
- LeonardLv 71 month ago
for one draw, expected profit is (1/9)($10) + (3/9)($4) + (5/9)(-$3) = $0.78.
So for 25 draw, expected gain is 25($0.78)=$19.50.
- 1 month ago
Obviously none unless you pick the green ball, but being told before hand that the green ball loses money i would not pick it. I would just pick the yellow ball everytime. easy PZ $250