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anonymous

  • one year ago

A person plays a game where he blindly picks a colored chip from a container. There are 20 chips in the container: 5 red, 11 green, and 4 blue. He gets $1 for a red chip, nothing for a green chip, and he has to pay $1.25 if he picks a blue chip. This is a fair game. True False

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  1. welshfella
    • one year ago
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    work out the probabilities of picking a blue chip and a red chip

  2. anonymous
    • one year ago
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    red chip=5/20=0.25 blue chip=4/20= 0.2

  3. welshfella
    • one year ago
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    on the face of it that seems fair as there is less chance of getting a blue than a red, The money is in the same ratio as the probabilities. But the chaance of picking a green is greater than 1/2...

  4. welshfella
    • one year ago
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    so what do you think?

  5. welshfella
    • one year ago
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    - but he doesn't have to pay money to play the game.

  6. anonymous
    • one year ago
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    okay that sounds fair to me @welshfella

  7. welshfella
    • one year ago
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    yes i think it is fair If you hade to pay to play then it would not be fair

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