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Posted by on Sunday, June 6, 2010 at 11:11pm.

julie and brandon cut lawns for their neighbors to earn money to a local charity. they thought that the customers should pay 20$. however, sevral customers offered a different pay plan and asked the students to chose. julie and brandon have to decide which of the pay plans would give them a fair deal over the long run. the customer rolls a pair of number cubes. if the product is 24 julie and brandon get 40$. otherwise, they get 10$.

  • math - , Sunday, June 6, 2010 at 11:21pm

    The only way to obtain a product of 24 on 2 dice is to get a 6,4 or 4,6
    prob of product of 24 = 2/36 = 1/18

    expected value of that = (1/18)(40) = $2.22
    expecte value of not a product of 24 = (17/18)(10) = $9.44

    strange question!
    where does "over the long run" come in?
    What happened to the $20 charge?

  • math - , Monday, June 7, 2010 at 12:02am

    thanks

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