Suppose You Open a New Game at the County Fair

question 60

Multiple Choice

Suppose you open a new game at the county fair.When patrons win,you pay them $3.00; when patrons lose,they pay you $1.00.If the probability of a patron winning is p = .20,then how much can you expect to win (or lose) in the long run? Hint: You need to compute the expected value of the mean.

• A) win 0.20 cents per play
• B) win 0.60 cents per play
• C) lose 0.80 cents per play
• D) lose 2.20 dollars per play

---

Definitions:

Adventuresome

A characteristic of being willing to take risks or try new experiences, often considered beneficial in exploring diverse career opportunities.

Holland Codes

A set of personality types developed by John Holland that categorizes individuals' preferences for certain work environments and roles, facilitating career guidance.

Consistent

The quality of being steady and uniform in one's actions or beliefs over time, including in work behavior and decision-making.

Holland Code

A theory-based classification system that categorizes people and environments into six types to help individuals identify career paths that match their personality.