Multiple Choice
Suppose Jack and Kate are at the town fair and are choosing which game to play. The first game has a bag with four marbles in it-1 red marble and 3 blue ones. The player draws one marble from the bag; if it is red, $20 is won, and if it is blue, $1 is won. The second game has a bag with 10 marbles in it-1 red, 4 blue, and 5 green. The player draws one marble from the bag; $20 is won if it is red, $5 is won if it is blue, and $1 is won if it is green. Both games cost $5 to play.What is the probability of drawing a blue marble in the first game?
A) 25 percent
B) 20 percent
C) 50 percent
D) 75 percent
Correct Answer:

Verified
Correct Answer:
Verified
Q51: In terms of insurance, which of the
Q52: In order to compare benefits today with
Q53: Which of the following statements about risk
Q54: How does an insurance policy help mitigate
Q55: Evaluating risk requires us to:<br>A)think about different
Q57: Because of the problem of adverse selection:<br>A)low-risk
Q58: Which of the following is closest to
Q59: Suppose Jack and Kate are at the
Q60: Diversification involves:<br>A)investing all your money in one
Q61: Jaime buys home insurance, but never ends