2. Create the probability distribution of the game. Fill in the missingparts of the chart.x + Number of Red Chips P(x)Result1Lose +2Win +3. Now find the expected value.x, Number of red chips X → Net Money Won or LostP(x)1+ + $4. What is the expected Value? In this game, two chips are placed in a cup. One chip has two red sidesand one chip has a red and a blue side. The player shakes the cup anddumps out the chips. The player wins if both chips land red side up andloses if one chip lands red side up and one chip lands blue side up. Thecost to play is $4 and the prize is worth $6. Is this a fair game.= Win a prize= Do not win a prize1. Start by determining the probabilities for winning a prize and notwinning a prize. Draw a probability tree to find the possible outcomesand the probabilities. After you draw the tree, check you work byclicking on the link below.Click to hide hintCHIP 1CHIP 2ProbabilityP(Red) & P(Red) = P(R) - P(R) = 0.5. 0.5 = 0.250.50.50.5P(Red) & P(Blue) = P(R) - P(B) = 0.5.0.5 = 0.25Start0.50.5P(Red) & P(Red) = P(R) - P(R) = 0.5. 0.5 = 0.250.5P(Red) & P(Blue) = P(R) - P(B) = 0.5.0.5 = 0.25

Name: 2. Create the probability distribution of the game. Fill in the missi
Uploaded: 2024-03-20T07:06:41.000Z
Channel: Bartleby
Description: 2. Create the probability distribution of the game. Fill in the missingparts of the chart.x + Number of Red Chips P(x)Result1Lose +2Win +3. Now find the expected value.x, Number of red chips X → Net Money Won or LostP(x)1+ + $4. What is the expected