There is a game with bottles set up at a carnival There are

Last updated: 4/8/2024

There is a game with bottles set up at a carnival There are a total of 15 colored bottles with either the word WIN or the word LOSE printed on the bottom 4 bottles are marked WIN and 11 bottles are marked LOSE The ticket cost for this game is 2 The rule is that the person places a ring around there selected bottle If the bottle has the word WIN on the bottom the player wins 8 What is the expected payoff for a player