In a game. a child will win Rs 5 if he gets all heads or all tails when three coins are tossed simultaneously and he will lose Rs 3 for all other cases. The expected amount to lose in the game is
- Rs. 0
- Rs. 0.8
- Rs. 1
- Rs. 2
The Correct Option is C
Solution and Explanation
Assume that \(X\) is the amount received by the person.
Thereafter, \(X\) can represent values \(5\) and \(-3\) in a way that
Probability of receiving all heads or all tails when three coins are tossed = \(P( X = 5)\)
\(P( X = 5) = 82 = 41\)
Probability of receiving one or two heads = \(P( X = - 3)\)
\(P(X = -3) = 86 = 43\)
Hence, per game expected amount is :
=\(X= ∑pixi = 5×41+(−3)×43 =−1\)
So, the child , on average, would lose Rs. 1 per toss of the coins.
Top Questions on Probability
Based upon the results of regular medical check-ups in a hospital, it was found that out of 1000 people, 700 were very healthy, 200 maintained average health and 100 had a poor health record.
Let \( A_1 \): People with good health,
\( A_2 \): People with average health,
and \( A_3 \): People with poor health.
During a pandemic, the data expressed that the chances of people contracting the disease from category \( A_1, A_2 \) and \( A_3 \) are 25%, 35% and 50%, respectively.
Based upon the above information, answer the following questions:
(i) A person was tested randomly. What is the probability that he/she has contracted the disease?}
(ii) Given that the person has not contracted the disease, what is the probability that the person is from category \( A_2 \)?- If A and B are two events such that $P(B) = \frac{1}{5}$, $P(A | B) = \frac{2}{3}$ and $P(A \cup B) = \frac{3}{5}$, then $P(A)$ is :
- If \( P(A) = \frac{1}{5}, P(B) = \frac{3}{5} \) and \( P(A \cap B) = \frac{2}{5} \), then \( P(A' \cup B') \) is :
- Bag I contains 4 white and 5 black balls. Bag II contains 6 white and 7 black balls. A ball drawn randomly from Bag I is transferred to Bag II and then a ball is drawn randomly from Bag II. Find the probability that the ball drawn is white.
- A meeting will be held only if all three members A, B and C are present. The probability that member A does not turn up is 0.10, member B does not turn up is 0.20 and member C does not turn up is 0.05. The probability of the meeting being cancelled is:
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Concepts Used:
Probability
Probability is defined as the extent to which an event is likely to happen. It is measured by the ratio of the favorable outcome to the total number of possible outcomes.
The definitions of some important terms related to probability are given below:
Sample space
The set of possible results or outcomes in a trial is referred to as the sample space. For instance, when we flip a coin, the possible outcomes are heads or tails. On the other hand, when we roll a single die, the possible outcomes are 1, 2, 3, 4, 5, 6.
Sample point
In a sample space, a sample point is one of the possible results. For instance, when using a deck of cards, as an outcome, a sample point would be the ace of spades or the queen of hearts.
Experiment
When the results of a series of actions are always uncertain, this is referred to as a trial or an experiment. For Instance, choosing a card from a deck, tossing a coin, or rolling a die, the results are uncertain.
Event
An event is a single outcome that happens as a result of a trial or experiment. For instance, getting a three on a die or an eight of clubs when selecting a card from a deck are happenings of certain events.
Outcome
A possible outcome of a trial or experiment is referred to as a result of an outcome. For instance, tossing a coin could result in heads or tails. Here the possible outcomes are heads or tails. While the possible outcomes of dice thrown are 1, 2, 3, 4, 5, or 6.