Open Query 10

#$&*

course mth 152

10/28 12:55

If your solution to stated problem does not match the given solution, you should self-critique per instructions at

http://vhcc2.vhcc.edu/dsmith/geninfo/labrynth_created_fall_05/levl1_22/levl2_81/file3_259.htm.

Your solution, attempt at solution.

If you are unable to attempt a solution, give a phrase-by-phrase interpretation of the problem along with a statement of what you do or do not understand about it. This response should be given, based on the work you did in completing the assignment, before you look at the given solution.

010. Query 10

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question: Query 12.5.6 fair dice game pays $3 for 6, $2 for 5, $1 for 4. What is a fair price to pay for playing this game?

YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY

Your solution:

1 in 6 chance of rolling a 6=$3*1/6= 3/6 or $.50

1 in 6 chance of rolling a 5=$2*1/6= 2/6 or $.33

1 in 6 chance of rolling a 4=$1*1/6= 1/6 or $.17

Then the ecpected fair price to pay would be $3*1/6+$2*1/6+$1*1/6= $1.00

confidence rating #$&*:

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Given Solution:

`aA 1 in 6 chance of getting $3 is worth 1/6 * $3 = $.50 .

A 1 in 6 chance of getting $2 is worth 1/6 * $2 = $.33 1/3 .

A 1 in 6 chance of getting $1 is worth 1/6 * $1 = $.16 2/3 .

The total expectation is $1.00 * 1/6 + $2.00 * 1/6 + $3.00 * 1/6 = $1.00

So a fair price to pay is $1.00 **

Self-critique

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Self-critique Rating:

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question: Query 12.5.10 expectation Roulette $1 bet 18 red, 18 black one zero

What is the expected net value of a bet on red?

YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY

Your solution:

37 compartments= 18 red+18 black+ 1 ZERO

Probablity of landing on red is 18/37

Probability of landing on something other than red is 19/37

putting $1 on red wins and putting $1 on anything other than red loses (-1)

$1*18/37+(-$1)*19/37= $.48+-$.51= -$.03

confidence rating #$&*:

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Given Solution:

`aIf your net gain is $1 for a win and -$1 for a loss the expected value is

18/37 * (+1) + 19/37 * (-1) = -$.027. **

Self-critique

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question: Query 12.5.20 exp sum of 2 of 5 cards 1-5.

What is the expected sum of the numbers on the two cards drawn?

YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY

Your solution:

{1,2,3,4,5}

SUM

Cant get any thing to add up to 1 or 2. Lowest sum possible sum would be 1+2=3

1+2=3 2+1=3 3+1=4 4+1=5 5+1=6

1+3=4 2+3=5 3+2=5 4+2=6 5+2=7

1+4=5 2+4=6 3+4=7 4+3=7 5+3=8

1+5=6 2+5=7 3+5=8 4+5=9 5+4=9

3S=2

4S=2

5S=4

6S=4

7S=4

8S=2

9S=2

2+2+4+4+4+2+2=20 possibilities

2/20 possibilities * the sum will be 3

2/20 possibilities * the sum will be 4

4/20 possibilities * the sum will be 5

4/20 possibilities * the sum will be 6

4/20 possibilities * the sum will be 7

2/20 possibilities * the sum will be 8

2/20 possibilities * the sum will be 9

2/20*3+2/20*4+4/20*5+4/20*6+4/20*7+2/20*8+2/20*9=

6/20 + 8/20 + 20/20 + 24/20 + 28/20 + 16/20 + 18/20 = 120/20= 6

confidence rating #$&*:

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Given Solution:

`aYou can't get a sum of 1 on two cards. There is also no way to get a sum of two, since the lowest total possible is 1 + 2 = 3.

There are 2 ways to get total 3. You can get 1 on the first and 2 on the second, or vice versa.

There are 2 ways to get total 4. You can get 1 on the first and 3 on the second, or vice versa.

There are 4 ways to get total 5. You can get 1 on the first and 4 on the second, or vice versa, or 2 on the first and 3 on the second, or vice versa.

There are 4 ways to get total 6. You can get 1 on the first and 5 on the second, or vice versa, or 2 on the first and 4 on the second, or vice versa.

There are 4 ways to get total 7. You can get 2 on the first and 5 on the second, or vice versa, or 4 on the first and 3 on the second, or vice versa.

There are 2 ways to get total 8. You can get 3 on the first and 5 on the second, or vice versa.

There are 2 ways to get total 9. You can get 4 on the first and 5 on the second, or vice versa.

You can't get more than 9.

There are 2+2+4+4+4+2+2 = 20 possibilities, so the probabilities are 2/20, 4/20, 5/20, etc..

The expected sum is therefore

2/20 * 3 + 2/20 * 4 + 4/20 * 5 + 4/20 * 6 + 4/20 * 7 + 2/20 * 8 + 2/20 * 9.

This gives 120 / 20 = 6. **

Self-critique

Thats alot to type!!

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question: Query Add comments on any surprises or insights you experienced as a result of this assignment.

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question: Query Add comments on any surprises or insights you experienced as a result of this assignment.

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#*&!

&#Good responses. Let me know if you have questions. &#