Unfair Game Flashcard 2

Front

What is an unfair game?

Back

An unfair game is a game where the odds are not in favor of the players, meaning that the expected outcome is not equal for all participants.

Front

Define probability.

Back

Probability is a measure of the likelihood that an event will occur, expressed as a number between 0 (impossible) and 1 (certain).

Front

What is the formula for calculating probability?

Back

Probability = (Number of favorable outcomes) / (Total number of possible outcomes).

Front

Explain the concept of expected value.

Back

Expected value is the average outcome of a random event, calculated by multiplying each possible outcome by its probability and summing the results.

Front

What does it mean if a game is fair?

Back

A fair game is one where all players have an equal chance of winning, and the expected value of the game is zero.

Front

What is a biased coin?

Back

A biased coin is a coin that does not have an equal probability of landing on heads or tails.

Front

How can you determine if a game is fair or unfair?

Back

You can determine if a game is fair or unfair by analyzing the probabilities of winning and losing for each player.

Front

What is a sample space in probability?

Back

A sample space is the set of all possible outcomes of a random experiment.

Front

Define 'event' in the context of probability.

Back

An event is a specific outcome or a set of outcomes from a sample space.

Front

What is the difference between independent and dependent events?

Back

Independent events are events where the outcome of one does not affect the other, while dependent events are events where the outcome of one does affect the other.