Belle42978
New member
- Joined
- Mar 31, 2009
- Messages
- 1
I'm not sure if this is the correct place to post my question, but the class I am currently taking is called "Probability and statistics."
The assignment i am working on is to present a business plan to a customer who would like to purchase a coin-operated dart machine that dispenses tickets based on the score you get. I was given the probabilities of each score, along with the number of tickets dispensed per score. I was also given the cost of the prize that is to be won using a certain amount of tickets.
The assignment requires three graphs to present the amount the customer should charge per throw, the amount of tickets that should be used for the prize, and how much money the customer should expect to make.
I have already completed the graph on hoe much the customer should charge per throw, and the amount of tickets that should be used for the prize. Now, I am stuck on the graph showing the customer's profit.
Here is the data I was given: (points
robability; 50:1/32, 40:1/16, 30:1/8, 20:1/4, 10:1/2, and 1:1/32), there is one ticket per ten points, and the prize costs $3.00.
I have found the average number of tickets per throw (17.8125), and the standard deviation (9.813944). Now I just need help putting it all together. Any assistance at all would be great, since I'm having trouble even getting started here!
The assignment i am working on is to present a business plan to a customer who would like to purchase a coin-operated dart machine that dispenses tickets based on the score you get. I was given the probabilities of each score, along with the number of tickets dispensed per score. I was also given the cost of the prize that is to be won using a certain amount of tickets.
The assignment requires three graphs to present the amount the customer should charge per throw, the amount of tickets that should be used for the prize, and how much money the customer should expect to make.
I have already completed the graph on hoe much the customer should charge per throw, and the amount of tickets that should be used for the prize. Now, I am stuck on the graph showing the customer's profit.
Here is the data I was given: (points
robability; 50:1/32, 40:1/16, 30:1/8, 20:1/4, 10:1/2, and 1:1/32), there is one ticket per ten points, and the prize costs $3.00.I have found the average number of tickets per throw (17.8125), and the standard deviation (9.813944). Now I just need help putting it all together. Any assistance at all would be great, since I'm having trouble even getting started here!