Answer:
The probability of selecting the color of ball that you just selected(a red ball) is
![P(r) = (2)/(10)](https://img.qammunity.org/2021/formulas/mathematics/college/w049kns8j6n8gbrng12qp7vrghq7atoupn.png)
Explanation:
From the question we are told that
The total number of colored balls is n = 10
The number of red balls is r = 2 red
The number of white ball is w = 4
The number of blue balls is b = 4
The number of balls to be selected is N = 2 balls
The cost of playing picking a ball is c = $10
The winnings is
![k = \$ P(A)](https://img.qammunity.org/2021/formulas/mathematics/college/m8vly30jyjyko614m9r1j2dbd3is25cwfc.png)
Here P(A) is the probability of obtaining the exact sequence of result and from the question it is P(A) = 0.10
Generally my price according to the question is
![k = (0.10 )/(10)](https://img.qammunity.org/2021/formulas/mathematics/college/ff6meyj19bdfg6s48aq15bwbqfw3o22bn0.png)
=>
![k = 0.01](https://img.qammunity.org/2021/formulas/mathematics/college/6vfuaptbxlwjl7ktmd81czfwc8i7ems11k.png)
Let assume we selected a red ball
Generally the probability of selecting a red ball is mathematically represented as
![P(r) = (2)/(10)](https://img.qammunity.org/2021/formulas/mathematics/college/w049kns8j6n8gbrng12qp7vrghq7atoupn.png)