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Question Number 174611 by MathsFan last updated on 05/Aug/22

$$\mathrm{Find}\mathrm{the}\mathrm{expected}\mathrm{payback}\mathrm{for}\mathrm{a}$$$$\mathrm{game}\mathrm{in}\mathrm{which}\mathrm{you}\mathrm{bet}\mathrm{\$}8.00\mathrm{on}\mathrm{any}$$$$\mathrm{number}\mathrm{from}0\mathrm{to}99\mathrm{and}\mathrm{if}\mathrm{your}$$$$\mathrm{number}\mathrm{comes}\mathrm{up},\mathrm{you}\mathrm{win}\mathrm{\$}2,000.00$$

Commented by shikaridwan last updated on 06/Aug/22

$$Probabilityofgettingx(x\in [0,99])$$$$=\frac{1}{99}$$$$notgetting=1-\frac{1}{99}=\frac{98}{99}$$$$Expectedpayback$$$$=\mathrm{\$}(\frac{2000}{99}+\frac{98}{99}.8)=\mathrm{\$}28.12$$

Commented by MathsFan last updated on 09/Aug/22

$$\mathrm{thank}\mathrm{you}\mathrm{sir}$$

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