4. If a 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.

4. If a 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.

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Description: 4. If a person rolls doubles when he tossed two dice, he wins Php5. For the game to be fair, howmuch should the person pay to play for the game?5. Ifa 60-year-old buys a Php1000 life insurance policy at a cost of Php60 and has a probability of0.972

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...

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Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

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4. If a 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. Ifa 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.

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