Probability question involving finding gain or loss of a game

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SUMMARY

The discussion centers around a probability question related to calculating the gain or loss in a game scenario. The initial attempt involved the formula $\frac{1}{13} \times 30 + \frac{12}{13} \times \frac{47}{51} \times -10$, which was deemed incorrect. The correct answer is established as $\frac{2}{9} p$, indicating a specific probability outcome. The conversation highlights the importance of understanding the underlying principles of probability in solving such problems.

PREREQUISITES
  • Basic understanding of probability theory
  • Familiarity with expected value calculations
  • Knowledge of fractions and their manipulation
  • Experience with game theory concepts
NEXT STEPS
  • Study the principles of expected value in probability
  • Learn how to solve probability problems involving multiple outcomes
  • Explore game theory applications in real-world scenarios
  • Review past exam questions on probability for practice
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This discussion is beneficial for students preparing for exams in probability, educators teaching probability concepts, and anyone interested in enhancing their understanding of game theory and expected value calculations.

Milly
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I tried using $\frac{1}{13}$ x 30 + $\frac{12}{13}$ x $\frac{47}{51}$ x -10 but it didnt work.
 

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Milly said:
I tried using $\frac{1}{13}$ x 30 + $\frac{12}{13}$ x $\frac{47}{51}$ x -10 but it didnt work.

Hi Milly! (Smile)

I believe you already have the right answer.
What makes you say that it doesn't work?
 
It is not the right answer. The right answer is 2/9 p
 
Milly said:
It is not the right answer. The right answer is 2/9 p

How do you know what the right answer is?
 
This is actually a past exam question. I got the answer but I don't know how to solve it.
 

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