ent D Question 1 2 pts In a box there a total of four prizes: Two of them are wo
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ent D Question 1 2 pts In a box there a total of four prizes: Two of them are worth $3, a single prize worth $10, and a single prize worth $273. A player will reach into the box and draw one of the prios at. and. What s lhe lair piorhan? State your answer in terms of dollars rounded to the nearest cent, but do not include a $ sign in your response. vas vas NOTE: Canvas may add extra Os to the end of your response, but the value of your answer will not be changed. rse LAN D Question 2 2 pts 5 singles, 7 fives, 5 twenties, and 2 hundred dollar bills are all placed in a hat. If a player is to reach into the hat and randomly choose one bill, what is the fair price to play this game? State your answer in terms of dollars rounded to the nearest cent, but do not include a $ sign in your response. NOTE: Canvas may add extra Os to the end of your response, but the value of your answer will not be changed.Explanation / Answer
1)Probability to get $3 worth prize=1/2
Probability to get $10 worth prize=1/4
Probability to get $ 273 worth prize=1/4
Fair price for this game=3/2+10/4+273/4=289/4=78.25
2) Probability to get singles=5/19
Probability to get fives=7/19
Probability to get twenties=5/19
Probability to get hundred =2/19
Fair price for this game=5/19+7*5/19+5*20/19+2*100/19=17.89
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