3. A box contains ten Php10 bills, five Php20 bills, three Php50 bills and one Php100 bill, and one Php500 bill. A person is charged Php75 to select one bill. Find the expectation. Is the game fair? 4. Ifa person rolls doubles when he tossed two dice, he wins Php5. For the game to be fair, how much should the person pay to play for the game? 5. If a 60-year-old buys a Php1000 life insurance policy at a cost of Php60 and has a probability of 0.972 of living to age 61, find the expectation of the policy.

3. A box contains ten Php10 bills, five Php20 bills, three Php50 bills and one Php100 bill, and one Php500 bill. A person is charged Php75 to select one bill. Find the expectation. Is the game fair? 4. Ifa person rolls doubles when he tossed two dice, he wins Php5. For the game to be fair, how much should the person pay to play for the game? 5. If a 60-year-old buys a Php1000 life insurance policy at a cost of Php60 and has a probability of 0.972 of living to age 61, find the expectation of the policy.

Name: 3. A box contains ten Php10 bills, five Php20 bills, three Php50 bill
Uploaded: 2024-03-20T07:06:41.000Z
Channel: Bartleby
Description: 3. A box contains ten Php10 bills, five Php20 bills, three Php50 bills and one Php100 bilI, and onePhp500 bill. A person is charged Php75 to select one bilI. Find the expectation. Is the game fair?4. If a person rolls doubles when he tossed two dice

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

Find the probability of the following. 1. At a private Teacher's convention held in Baguio recently there are seven Math teachers, five Science Teachers, 3 English Teachers, and 4 TLE Teachers. If a teacher is selected, find the probability of getting a math or science teacher. 2. An automobile dealer decides to select a month for its annual sale. Find the probability that it will be june or July.
Suppose that you roll two six-sided die. A. List the outcomes that have a sum of 7. B. What is the probability of a sum of 7?
9. Consider a gamble based on a toss of a fair coin: you pay ¥x and then toss the coin. If the toss results in a "head", you get 2x, but if it results in a "tail", you get nothing. Suppose you have ¥200 in total and can make the bets in one of two ways. You can either bet the entire ¥200 on a single toss, or you can bet half of your money on the first toss and the remaining half on the second toss. (a) If you are risk-averse, which way would you prefer? You may assume u(0) = 0. (b) If you are risk-neutral, which way would you prefer?
If one card is drawn from a deck, find the probability of getting these result. 7. A heart or a club 8. A red queen
One card is drawn from an ordinary deck of 52 cards. Find the probabilities of drawing the foliowing cards. a. A 2 or 4 b. A black card or a 9 c. A 10 or a black 7 d. A heart or a black card e. A face card or a diamond a. What is the probability that the card is either a 2 or a 4? (Simplify your answer. Type an integer or a fraction.)
In a popular casino game, you can bet one whether a ball will fall in an arc on a wheel colored red, black, or green. Say the probability of a red outcome is 18 that of a black outcome is 36, and that of a green outcome is 2 Suppose someone makes a S25 bet on black. Find the expected net winnings for this single bet. Interpret the result. Choose the correct answer below and fill in the answer box to complete your choice. (Round to three decimal places as needed.) O A. If the $25 bet on black was placed a very large number of times, the bettor would win a total of dollars. O B. If the $25 bet on black was placed a very large number of times, the average winnings would be dollars per bet. O C. On average, a person is expected to win dollars for any bet on the roulette wheel. OD. A person will win dollars every time a $25 bet was placed on black.
45. If a pair of dice is thrown, and the probability that the sum the digits is neither 7 nor 11.