Q. 79 A 鈥渇riend鈥� offers you the fo... [FREE SOLUTION]

Barbara Illowsky, Susan Dean

$Math Studyset 91影视 Explanations$ Math

OER 2018 Edition 路 902 pages

ISBN: 9781938168208

Chapter 4: Q. 79 (page 291)

A 鈥渇riend鈥� offers you the following 鈥渄eal.鈥� For a $$10$ fee, you may pick an envelope from a box containing $100$ seemingly identical envelopes. However, each envelope contains a coupon for a free gift.
鈥� Ten of the coupons are for a free gift worth $$ 6$ .
鈥� Eighty of the coupons are for a free gift worth $$8$ .
鈥� Six of the coupons are for a free gift worth $$ 12$ .
鈥� Four of the coupons are for a free gift worth $$ 40 .$
Based upon the financial gain or loss over the long run, should you play the game?
a. Yes, I expect to come out ahead in money.
b. No, I expect to come out behind in money.
c. It doesn鈥檛 matter. I expect to break even.

Expert verified

(b) No, I should not play, I expect to come out behind in money.

There are $100$ identical envelopes and have to pick one envelope cost of $$ 10$ .

Each envelope contains a gift. They are:

Ten envelopes contain $$ 6$ gift.

Eighty envelopes contain $$ 8$ gift.

Six envelopes contain $$ 12$ gift.

Four envelopes contain $$ 40$ gift.

X represents the net profit.

As we can see, if we play this game, we will lose money, so I expect to lose money.

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