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18 August, 12:34

you are invited to play the following game: an urn holds two white and three black balls, and you draw three balls randomly. If you draw no white balls, you lose $10; if you draw one white ball, you lose nothing; and if you draw both white balls, you gain $10. Should you play this game? You must present an argument for possible f

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  1. 18 August, 14:59
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    That is why i did not play this game.

    Explanation:

    Lets i have initially $100.

    There are 2 white and 3 black balls.

    I have to draw 3 balls

    If i draw no white balls, i lose $10; if i draw one white ball, i lose nothing; and if i draw both white balls, you gain $10.

    So the final fortune = x

    x = 100 x 1/2 x 1/2 x 3/2 x 3/2

    x = $56.25

    That is why i did not play this game.
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