1. What’s the probablity of a second person winning the small prize?
There are now 99 total marbles, and 24 silver marbles. So, 24/99 is 0.24 probability.
2. Which player is most likely to win a big prize?
Since each player draws a silver marble (aka a small prize) there are less small prize marbles in the bag after each turn. So, the first person would have a 5% chance (or 0.05)of winning the big prize gold marble, but the last person would have a slightly bigger chance (5.15% or 0.0515) of winning a big prize.
3. How could the game be made fair for each player?
Well it’s quite simple, just have each player return their marble and the number of marbles would be kept constant, giving everyone an equal chance. Or you could have them all play at the same time, either way.
4. Same answer as 3