Problem 21
If you toss a fair coin six times, what is the probability of getting all heads?
Problem 21
A stock can go up, go down, or stay unchanged. How many possibilities are there if you own seven stocks?
Problem 21
If people understood the mathematics involving probabilities and lotteries, as you now do, do you think they would continue to spend hundreds of dollars per year on lottery tickets? Explain your answer.
Problem 21
You randomly select one card from a 52-card deck. Find the probability of selecting the 2 of hearts or the 3 of spades.
Problem 22
If you toss a fair coin seven times, what is the probability of getting all tails?
Problem 22
How do insurance companies use expected value to determine what to charge for a policy?
Problem 22
A social security number contains nine digits, such as 074-66-7795. How many different social security numbers can be formed?
Problem 23
The mathematics faculty at a college consists of 8 professors, 12 associate professors, 14 assistant professors, and 10 instructors. If one faculty member is randomly selected, find the probability of choosing a professor or an instructor.
Problem 24
If the expected value of a game is negative, what does this mean? Also describe the meaning of a positive and a zero expected value.
Problem 25
Write an original problem that can be solved using the Fundamental Counting Principle. Then solve the problem.