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1. A box contains ten $1 bills, five $2 bills, three $5 bills, one $10 bill, and one $100 bill. A person is charged $20 to select one bill. Find the expected value for this game. Is this game fair?

1. A box contains ten $1 bills, five $2 bills, three $5 bills, one $10 bill, and one $100 bill. A person is charged $20 to select one bill. Find the expected value for this game. Is this game fair?

MATLAB: An Introduction with Applications
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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Name: 3. Rish Florist determines the probabilities for the number of flower arrangements they deliver each day. 6. 7 8 10 P(X) 0.2 0.2 0.3 0.2 0.1 a. Find the mean, variance, and standard deviation. = O = b. Approximately how many arrangements should Rish expect to deliver each week? Games & Expectation 1. A box contains ten $1 bills, five $2 bills, three $5 bills, one $10 bill, and one $100 bill. A person is charged $20 to select one bill. Find the expected value for this game. Is this game fair? 2. If a person rolls doubles when he tosses two dice, he wins $5. The cost to play the game is $1. Is this game fair?
Transcribed Image Text:Name: 3. Rish Florist determines the probabilities for the number of flower arrangements they deliver each day. 6. 7 8 10 P(X) 0.2 0.2 0.3 0.2 0.1 a. Find the mean, variance, and standard deviation. = O = b. Approximately how many arrangements should Rish expect to deliver each week? Games & Expectation 1. A box contains ten $1 bills, five $2 bills, three $5 bills, one $10 bill, and one $100 bill. A person is charged $20 to select one bill. Find the expected value for this game. Is this game fair? 2. If a person rolls doubles when he tosses two dice, he wins $5. The cost to play the game is $1. Is this game fair?
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