12,200SHOX 33) Suppose you pay $3.00 to roll a fair die with the understanding that you will get back $5.00 forrolling a 3 or a 6, nothing otherwise. What is your expected value?A) $3.00B) -$3.00C) -$1.33D) $5.0033)Find the minimum sample size you should use to assure that your estimate of p will be within the required margin of

given data pay $ 3 to roll a fair dieif roll 3 or 6 you win $ 5otherwisw nothing expected value =?

Answered: 0X 33) Suppose you pay $3.00 to roll a…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Number 2
There is a 0.9986 probability that a randomly selected 31-year-old male lives through the year. A life insurance company charges $175 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $100,000 as a death benefit. Complete parts (a) through (c) below. a. From the perspective of the 31-year-old male, what are the monetary values corresponding to the two events of surviving.the year and not surviving? The value corresponding to surviving the year is $ - 175 The value corresponding to not surviving the year is $ 99,825 (Type integers or decimals. Do not round.) b. If the 31-year-old male purchases the policy, what is his expected value? The expected value is $. (Round to the nearest cent as needed.)
Suppose that a life insurance company insures 1,000,000 fifty-year-old people in a given year. (Assume a death rate of 4 per 1000 people.) The cost of the premium is $100 per year, and the death benefit is $50,000. What is the expected profit or loss for the insurance company? The insurance company can expect a(n) $ million (Type an integer or decimal rounded to one decimal place as needed.)
Suppose a charitable organization decides to raise money by raffling a trip worth $500. If 3000 tickets are sold at $1.00 each, find the expected payback for a person who buys 1 ticket
Answer letter a to c.
6. Suppose you roll a six-sided die once. The pay out is as follows. A 1, 3, or 5 pays $2.00. A 2 or 4 pays $3.00. A 6 pays nothing. What is the expected pay out?
Suppose you pay $10 to roll a fair die with the understanding that you will get back $17 for rolling a 1 or a 2, nothing otherwise. What is your expected value? Round to the nearest cent. In your response do not use any words or symbols (i.e. $).
200,000 lottery tickets are sold for $3 each. There is one jackpot prize of $50,000, 25 second prizes of $2000, and 100 third prizes of $40. Find the expected value of your profit when you buy a ticket. Round your answer to the nearest cent.
a. Find the probability that when a single six-sided die is rolled, the outcome is 3. b. Find the probability that when a coin is tossed, the result is tails. c. Find the probability that when a six-sided die is rolled, the outcome is 7. a. The probability of rolling a 3 on a six-sided die is (Round to three decimal places as needed.) ...

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0X 33) Suppose you pay $3.00 to roll a fair die with the understanding that you will get back $5.00 for rolling a 3 or a 6, nothing otherwise. What is your expected value? ntify the A) $3.00 B) -$3.00 C) -$1.33 D) $5.00