Linty Fresh
Junior Member
- Joined
- Sep 6, 2005
- Messages
- 58
Mr. Jones would like to beat Mr. Brown in an upcoming golf tournament, but his chances are nil unless he takes $400 worth of lessons which will give him a 50/50 chance. If Mr. Jones can expect to break even if he takes the lessons and bets Mr Brown $1,000 against x dollars that he will win, find x.
___
OK, so for I set the amount for Mr. Jones winning at $600 ($1,000 minus the $400 he had to pay for lessons) and multiplied it by 1/2. I set x multiplied by 1/2 for Mr. Brown's victory. So . . .
AjPj=AbBb (as it's breaking even)
$600/2=x/2
x=$600
Was I right to set the two mathematical expectations for Jones and Brown equal to each other to represent the break-even point?
Thanks!
___
OK, so for I set the amount for Mr. Jones winning at $600 ($1,000 minus the $400 he had to pay for lessons) and multiplied it by 1/2. I set x multiplied by 1/2 for Mr. Brown's victory. So . . .
AjPj=AbBb (as it's breaking even)
$600/2=x/2
x=$600
Was I right to set the two mathematical expectations for Jones and Brown equal to each other to represent the break-even point?
Thanks!