2. A carnival game is played as follows: You draw a card from an ordinary deck. If you draw an ace, you win $5. You win $3 for a picture card and $10 for the three of spades. If you pick anything else, you lose $2. On average, how much money can the operator expect to make per customer? x | P(x) -S -3 ㅇ -10 x· P(x) 4/52 -20/52 12/52 -36/52 Expected value = M 1/52-10/2 2 35/52 X = the amount gain / loss of the operator 70/52 4/52 Σ [x-P(x)] 4/52 ~³0.08
2. A carnival game is played as follows: You draw a card from an ordinary deck. If you draw an ace, you win $5. You win $3 for a picture card and $10 for the three of spades. If you pick anything else, you lose $2. On average, how much money can the operator expect to make per customer? x | P(x) -S -3 ㅇ -10 x· P(x) 4/52 -20/52 12/52 -36/52 Expected value = M 1/52-10/2 2 35/52 X = the amount gain / loss of the operator 70/52 4/52 Σ [x-P(x)] 4/52 ~³0.08
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
I am confused on how they got the numbers for the table. Can you explain it in a easy way that is not extremely long, thanks!
![2. A carnival game is played as follows: You draw a card from an ordinary deck. If you draw an
ace, you win $5. You win $3 for a picture card and $10 for the three of spades. If you pick
anything else, you lose $2. On average, how much money can the operator expect to make per
customer?
x | P(x) = x· P(x)
4/52-20/52
-S
- 3
-10
2
X = the amount gain / loss of
the operator
12/52 -36/52 Expected value = M
1/52-10/52
35/52 70/52
4/52
=
Σ [x. P(x)]
4/52
0.08](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5ffe8c53-ddab-413b-a2eb-8fc51edf0474%2Ffaa5bd0d-2a79-4467-a97e-a5ec8092e4cb%2Fcvofau_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2. A carnival game is played as follows: You draw a card from an ordinary deck. If you draw an
ace, you win $5. You win $3 for a picture card and $10 for the three of spades. If you pick
anything else, you lose $2. On average, how much money can the operator expect to make per
customer?
x | P(x) = x· P(x)
4/52-20/52
-S
- 3
-10
2
X = the amount gain / loss of
the operator
12/52 -36/52 Expected value = M
1/52-10/52
35/52 70/52
4/52
=
Σ [x. P(x)]
4/52
0.08
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 5 images
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman