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27 February, 00:10

at a casino, a coin toss game works as follows. Quarters are tossed onto a checker-board. the gaming dealer keeps all the quarters, but for each quarter landing entirely within one square of the checkerboard the gaming dealer pays a dollar. Assume that the edge of each square is twice the diameter of a squatter, and that the outcomes are described by coordinates chosen at random. Is this a fair game

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  1. 27 February, 00:19
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    Step-by-step explanation:

    According to the data given;

    edge of square = 2 x diameter of a quarter let diameter of a quarter = d area of quarter = πd²/4 Area of each square = (2d) ² = 4d² Thus the probability of a quarter completely within a square = πd²/4/4d² = 0.'196

    Now if one losses a quarter or gains a dollar, Probability of earning a dollar = 4 x 0.196 = 0.784

    As such, since probability of winning is more than 0.5, it is a fair game. It should be noted that Probability of winning + probability of loosing = 1 Hence probability of loosing = 1 - 0.784 = 0.804
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