Homework SourseA bag containing 8 green and 2 red balls In a fair gain you
A bag containing 8 green and 2 red balls. In a fair gain you draw out 2 balls without replacing the first ball drawn. If both of the balls drawn are red you win $100. How much should you pay if you lose?
A bag containing 8 green and 2 red balls. In a fair gain you draw out 2 balls without replacing the first ball drawn. If both of the balls drawn are red you win $100. How much should you pay if you lose?
Solution
You lose if the balls drawn are either 1red and 1green or 1green and 1red or both are green.
You should pay $0 if you lose.
