An urn contains three blue and seven green marbles. Alice chooses two marbles at random from...

An urn contains three blue and seven green marbles. Alice chooses two marbles at random

from the urn. If they have the same color, Bob will pay her $7; but if they have different colors, Alice will pay Bob $8

a) Give the probability distribution for Alice’s payoffs of this game. Use proper headings for the table.

b) What are Alice expected winnings in this game?

Is it a fair game?

Solutions

Expert Solution

amount paid by Alice	8	-7
Probability	7/15	8/15

orchestra answered 1 year ago

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