istory Bookmarks Window Help tuskegee blackboardcom Chapter

istory Bookmarks Window Help tuskegee blackboard.com Chapter 12 Deita Book a Remaining Time: 1 hour, 43 minutes, 40 seconds. e Question Completion Status: Moving to another question will save this response Question 8 of 102 Question 8 2 points Save Answer A fair die is tossed. If in lands the number you picked. you win $12·If it lands the number other than you picked, you lose S How much should a ticket to play this game cost the game wants to break even? $0.83 $1.50 $1.75 . Moirg to another gueston wil save this nesoo se. Question 8 of 10

Solution

Let

x = the ticket price.

As P(win) = 1/6 = 0.1666667
P(lose) = 1-1/6 = 0.833333

Then

0.16666667*(12 - x) + 0.8333333(-x - 1) = 0

Solving for x,

x = 1.17 [ANSWER, A]