Question

Please help! Correct answer only!

At a carnival, there is a game where you can draw one of 20 balls from a bucket. The balls are numbered from 1 to 20. If the number on the ball is odd, you win $31. If the number on the ball is even, you win nothing. If you play the game, what is the expected payoff?

$____

Answer 1

Expected Payoff ⇒ $ 15.5 ; Type in 15.5

Explanation:

Considering that all odd out of the 20 numbers will have a probability of winning a 31 dollar prize, take a proportionality into account;

`20 - Total Number of Balls,\\1 - 20 - Numbering of Balls,\\Even = Odd, Between 1 - 20, Knowing 20 - Even,\\\\10 / 20 - Odd,\\10 / 20 - Even,\\1 / 2 - Probability of Choosing an Odd Ball,\\\\Proportionality - 1 / 2 = x / 31, where x =`

Thus, Solution ; Expected Payoff ⇒ $ 15.5