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 #2
avatar+4619 
+1
Sep 18, 2016
 #3
avatar+2489 
+6

I MUCKED this up when I edited it to make it neat. I can't blame it on a banana allergy.angel

The sums were/are correct for the correct values, so the answer stays the same

Here's the corrected version.

 

Black Ball probability 0.80

                                $1 Ball drawn probability 0.75    Expected Value = 0.80 * 0.75 * 1 =  $0.60 

                                $7 Ball drawn probability 0.25    Expected Value = 0.80 *0.25 * 7 =   $1.40

                                                                                                                          Sum         $2.00

 

White Ball probability 0.20

                                $8     Ball drawn probability 0.889    Expected Value = 0.20 * 0.8889 * 8    =    $1.42

                                $500 Ball drawn probability 0.111    Expected Value = 0.20 * 0.1111 * 500 =   $11.11

                                                                                                                                          Sum       $12.53

                                                   

                                                                                 Sum of expected values   2.00 + 12.53 = 14.53

 

Expected win per play $14.53

 

I'll explain the logic below.

Sep 18, 2016
 #2
avatar+118654 
+5

Hi Ginger - it is nice to see you here

 

angry    Tertre please do not double post like this !!!    angry

 

You can repost if you want but link the repost to the original question so that it is not double answered.

Like this

http://web2.0calc.com/questions/bin-a-has-one-white-ball-and-four-black-b-s-bin-b-has-three-b-s-labeled-1-and-one-ball-labeled-7-bin-w-has-five-b-s#r2

 

If you do not know how to link it you can still copy in the address!

 

Now, my answer is on the other thread Ginger.     laugh

 

I admitted there and I will admit here as well that I am not very familiar with expected value questions but I cannot follow some of your logic Ginger.....

For instance in your first section you have a $7 ball but there is no 7 in your calculation.....

Sep 18, 2016

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