Probability- NEED HELP

G

Guest

Guest
Need some help with my daughters math. She has to plan and carry out a simulation for a reasonable number of trials. The question is: a newspaper carrier makes 5.00 a wk and a customer offers a choice of pulling money out of a bag. The bag has a 10.00 and five 1.00. Two possible sums are 11.00 and 2.00.

After the first question then she has to make an "area model" to cumpute the expected value form the alternate pay plan.

Any help on this would be great. Thanks
 
Sorry, but that makes no sense.
Does the customer(s) owe the kid $5, and proposes to the kid:
instead of paying you the $5, I'll offer you this deal:
this bag contains a $10 bill and five $1 bills : pull 2 bills. ???
 
Using any of the methods, the carrier will get the same amount..5

The bag has a 10.00 and five 1.00. Two possible sums are 11.00 and 2.00.
Click to expand...
The bag has 6 notes and 2 have to be selected. So total possible number of selections is 6C2 =15 way
one 10 can be selected in 1C1 = 1 way
one 1 can be selected in 1C5 = 5 way
so a 1 and 10 can be selected in1*5 = 5 ways
probability of selecting and 1 and 10 is 5/15 = 1/3
so probability of selecting a 1 and 1 is 1-1/3 = 2/3

Expected value of earning 11 is 11*1/3 = 11/3
Expected value of earning 2 is 2*2/3 = 4/3
Expected total earning = 11/3 + 4/3 = 15 /3 = 5

:!:
 
You must log in or register to reply here.
Top