







Would it be worth paying $20K for 4 chances... 
20030113 

From Steve:
If I've got 4 chances to to achieve X goal, and in each chance that I have I've got a 65% chance of achieving this goal, what is my overall probablity of achieving this goal? Also, what would it be after each of my 4 chances (i.e., for my 2nd chance, would it be (.65 * (.65*.65)? I've forgotten some basic probablity theories, and would appreciate any help on this. With the probablities above, would it be worth paying $20K for 4 chances to achieve the goal or $8.5K for only 1 chance to acheive the goal? (at 65% probability) Answered by Andrei Volodin. 





A $10,00 prize 
20011023 

From Michelle: The grand prize for winning a contest is $10,000. After 28 percent of the prize is deducted for taxes, the winner receives the balance of the prize in annual payouts of equal amounts over a 3year period. How many dollars will the prizewinner receive each year of the 3 years?(Disregard the $ sign when gridding your answer.) Answered by Penny Nom. 





Winning percentages 
20010221 

From Mike: TEAM A WINS 55% OF GAMES PLAYED TEAM B WINS 40% OF GAMES PLAYED AGAINST THE SAME OPPONENTS WHAT WINNING PERCENTAGE SHOULD BE EXPECTED WHEN TEAM A PLAYS TEAM B (NEUTRAL SITE)? Answered by Harley Weston. 





The odds of winning 
20010209 

From Anna: The odds of winning in a game are 3 out of 10. How many times would one have to play the game in order to be sure they would win? Answered by Leeanne Boehm. 





Instant Winner 
19990407 

From FSSTAN: The probabilities of being an "instant winner" of $25 or $50 in a lottery are 1/600 and 1/1200, respectively. The mathematical expectation of being an "instant winner" of $25 or $50 is? Answered by Jack LeSage and Penny Nom. 

