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Probability & Statistics - Random Variables

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A game company that manufactures a dart game that dispenses tickets has been asked to put a business plan together for a customer who wishes to buy the game. The dart game gives 5 tickets for a score of 50, 4 tickets for a score of 40, 3 tickets for a score of 30, two tickets for a score of 20, 1 ticket for a score of 10, and no tickets if th board is not hit.

The customer will be exchanging the tickets for stuffed animals that cost $3.00 each. Prepare a report for the customer that presents the expected value in points of each throw of the darts, and then present a graphic representation, of at least thre plans relating cost per dart, cost in tickets of the animals, and expected profit. Include a one or two paragraph summary of the possible plans.

The probabilities of getting each score are contained in the table below.

50 1/32
40 1/16
30 1/8
20 1/4
10 1/2
0 1/32

Remember: needing 3 plans, a report for the customer that presents the expected value in points of each throw of the darts, and then presents the expected value in points of each throw of the darts, and then present a graphic representation of at least three plans relating cost per dart, cost in tickets of the animals, and expected profit.

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Solution Summary

A game company that manufactures a dart game that dispenses tickets has been asked to put a business plan together for a customer who wishes to buy the game. The dart game gives 5 tickets for a score of 50, 4 tickets for a score of 40, 3 tickets for a score of 30, two tickets for a score of 20, 1 ticket for a score of 10, and no tickets if th board is not hit.

The customer will be exchanging the tickets for stuffed animals that cost $3.00 each. Prepare a report for the customer that presents the expected value in points of each throw of the darts, and then present a graphic representation, of at least thre plans relating cost per dart, cost in tickets of the animals, and expected profit. Include a one or two paragraph summary of the possible plans.

The probabilities of getting each score are contained in the table below.

50 1/32
40 1/16
30 1/8
20 1/4
10 1/2
0 1/32

Remember: needing 3 plans, a report for the customer that presents the expected value in points of each throw of the darts, and then presents the expected value in points of each throw of the darts, and then present a graphic representation of at least three plans relating cost per dart, cost in tickets of the animals, and expected profit.

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