Expected Value of ATV Bowling
To calculate the profiit of our game you have to take many different aspects in account. How much money will you spend on prizes and the build up materials? ATV Bowling is a pretty simple and easy process with a satisfying result of profit.
We will charge $1 per player, so if we had 100 players we'd make $100 without taking out any expenses.
Expected Expenses:
Cost of individual small prize: .50 cents
Cost of individual big prize: $1
Expected Value = (theoretical probability) x (# of plays)
No Prize: (62/100) (100) = 62 people
Small Prize: (38/100) = 38
Big Prize: (0/100) = 0
Theoretically no one will win a large prize, but after testing our game out we realized that people do have a small chance of winning the large prize you'll probably want to be prepared with a limited amount of them.
But for now:
Materials:
Small Price Expense: 0.50x38 = $19
Ten 2L soda bottles: 0.89x10 = $8.90
Volleyball: $12.00
+ Tape: $1.50
Total Expected Expenses = $41.40
Profit: $100.00 - $41.40 = $58.60
We will charge $1 per player, so if we had 100 players we'd make $100 without taking out any expenses.
Expected Expenses:
Cost of individual small prize: .50 cents
Cost of individual big prize: $1
Expected Value = (theoretical probability) x (# of plays)
No Prize: (62/100) (100) = 62 people
Small Prize: (38/100) = 38
Big Prize: (0/100) = 0
Theoretically no one will win a large prize, but after testing our game out we realized that people do have a small chance of winning the large prize you'll probably want to be prepared with a limited amount of them.
But for now:
Materials:
Small Price Expense: 0.50x38 = $19
Ten 2L soda bottles: 0.89x10 = $8.90
Volleyball: $12.00
+ Tape: $1.50
Total Expected Expenses = $41.40
Profit: $100.00 - $41.40 = $58.60