A Carnival Has a Game of Chance: a Fair Coin

question 92

Multiple Choice

A carnival has a game of chance: a fair coin is tossed. If it lands heads you win $1.00, and if it lands tails you lose $0.50. How much should a ticket to play this game cost if the carnival wants to break even?

• A)$0.25
• B)$0.50
• C)$0.75
• D)$1.00

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Definitions:

Ethical Principle

Fundamental guidelines or rules that help dictate right from wrong and guide moral conduct within various contexts.

Psychology Experiments

Research methods used in psychology to study behavior and mental processes through controlled conditions and variables.

Human Participants

Individuals who take part in research studies or experiments, contributing data through their actions or responses.

Normal Distribution

A bell-shaped curve that represents the distribution of many types of data where most values cluster around the mean.