A large bag contains 1200 red marbles and 2001 blue marbles. Joe and Lisa will play a game in which they draw a single marble from the bag with replacement. For every game they will bet $35. Lisa wins the money if the marble is red and Jow wins if it's blue. If they play this game for 7 straigth days at an average rate of one game per every 10 seconds, who should win money and exactly how much should he/she expect to win?
I have a data management test tomorrow((
I dunno if that's going to help but it's binomial distribution and we're suposed to use this formula
(n)*p^k*q^n-k
(k)
I tried to solve it and the best solution I came up with is
sorry it's not 2001 blue marbles, it's 1201. sorry about the typo
(2001/2401)*604800*35=10592820
I'm not sure if it's right thou
Hello, anna12345!
A large bag contains 1200 red marbles and 2001 blue marbles.
Joe and Lisa will play a game in which they draw a single marble from the bag with replacement.
For every game they will bet $35.
Lisa wins the money if the marble is red, and Jow wine if it's blue.
If they play this game for 7 days at a rate of one game every 10 seconds,
who should win money and exactly how much should he/she expect to win?
Just "eyeballing" the problem, we see that Joe has the advantage.
. . (There are more blue marbles than red marbles.)
There is a total of 3201 marbles: 1200 red and 2001 blue.
Joe wins of the time and loses of the time.
He comes out ahead of the time.
In seven days, they will play 60,480 games.
Joe comes out ahead in: games.
At $35 per game, Joe expects to win: .