+0  
 
+5
691
3
avatar+4330 

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 labeled $8 and one ball labeled $500. A game is played as follows: a ball is randomly selected from bin A . If it is black, then a ball is randomly selected from bin B ;otherwise, if the original ball is white, then a ball is randomly selected from bin  W. You win the amount printed on the second ball selected. What is your expected win?

 Sep 17, 2016
 #1
avatar+4330 
0

are u there cphil

 Sep 17, 2016
 #2
avatar+106943 
0

Hi Tertre     laugh

 

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 labeled $8 and one ball labeled $500. 

 

A game is played as follows: a ball is randomly selected from bin A . If it is black, then a ball is randomly selected from bin B ;otherwise, if the original ball is white, then a ball is randomly selected from bin  W. You win the amount printed on the second ball selected. What is your expected win?

 

I am not very familiar with expected wins but this is what seems sensible to me.

 

If you choose a ball from bin B then the average win would be    (3*1+7)/ 4 = $2.50

If you choose a ball from bin W then the average win would be    (5*8+500)/6 = $90

 

so the answer would be   (4/5  *  $2.50) + ( 1/5  *  $90)  =   $2 + $18  = $20

 

I would expect to win $20       

 

( The expected win is the average win you would get if you played the same game an infinite number of times )

 Sep 18, 2016

11 Online Users

avatar