Problem 2 (20 points). Suppose that at FIU Homecoming this year, there is an eve

Question

Problem 2 (20 points). Suppose that at FIU Homecoming this year, there is an event called Professor". You have three chances to throw a ball and hit a lever so that your professor wi pool and get wet. You can dunk your professor a maximum of three times. Fun! "Dunk your ll fall into the Suppose that your probability of hitting the lever is 0.3. Your friend offers you a bet of $5 that you cannot dunk your professor. You win $5 if you dunk your professor at least once an $5 if you do not dunk your professor at all. Is this a profitable bet? a) d lose

Explanation / Answer

Probability of dunk a lever = 0.3

Probability of not dunking professor atleast (0.7)3 = 0.343

Probability of dunking professor atleast - 0.343 = 0.657

so as probability of not dunking professor atleast once is less than probability of dunking professor so the bet is profitable.

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