Joe Is Going to Play a Carnival Game Where If $\$ 20$

question 11

Short Answer

Joe is going to play a carnival game where if you guess the correct month, you win $\$ 20$ . It costs $\$ 2$ to play. 1 represents he wins, 2-12 represents he loses.
What is his expected winnings if he plays 27 times? A computer randomly generated the following
numbers from 1 to $12 . \quad$$\begin{array}{|l|l|l|l|l|l|l|l|l|}\hline 8 & 6 & 7 & 9 & 7 & 9 & 10 & 9 & 6 \\\hline4 & 8 & 8 & 5 & 12 & 10 & 9 & 5 & 10 \\\hline6 & 7 & 12 & 5 & 1 & 4 & 9 & 1 & 11 \\\hline\end{array}$

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Definitions:

Timesheet

A document or software where employees' working hours are recorded.

Work in Process Inventory

Partially finished goods that are in the process of being produced but are not yet complete.

General Ledger

The master set of accounts that summarize all transactions occurring within an entity, used to prepare financial statements.

Production Costs

Expenses directly related to the manufacture of goods, including materials, labor, and overhead.