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The Big Bills are a charitable organization that conducts seven online contests with different combinations of prizes and entry costs. Arrange the contests in increasing order of what the chance to win should be so as to give a zero expected value to a player of that game.

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shadeslayerdr shadeslayerdr

Today at 11:55 AM
Mathematics

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The Big Bills are a charitable organization that conducts seven online contests with different combinations of prizes and entry costs. Arrange the contests in increasing order of what the chance to win should be so as to give a zero expected value to a player of that game.

Answer :

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facundo3141592 facundo3141592 · Answer 1 · 2025-03-28T12:00:35-04:00

Answer: if 1 represents the game at the top and 7 the game at the bottom, the order is 1, 6, 5, 2, 3, 7, 4

Step-by-step explanation:

in a game where the expected value is zero, if your probability to win is p and the entry cost is C, then you should win an amount W = C/p

then p = C/W

1) C = $5, W = $200

p = 5/200 = 0.025

2) C = $6, W = $300

p = 6/300 = 0.02

3) C = $9, W = $468

p = 9/468 = 0.019

4) C = $8, W = $440

´p = 8/440 = 0.0181

5) C = $7, W = $315

p = 7/315 = 0.0022

6) C = $4, W = $168

p= 4/168 = 0.024

7) C = $10, W = $540

p = 10/540 = 0.0185

Then the order, from least probability to greatest probability of winning is:

1, 6, 5, 2, 3, 7, 4

HELP ASAP The Big Bills are a charitable organization that conducts seven online contests with different combinations of prizes and entry costs. Arrange the contests in increasing order of what the chance to win should be so as to give a zero expected value to a player of that game.

Answer :

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HELP ASAP
The Big Bills are a charitable organization that conducts seven online contests with different combinations of prizes and entry costs. Arrange the contests in increasing order of what the chance to win should be so as to give a zero expected value to a player of that game.