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4. In a deck of cards which consists of cards numbered 1 to 5, a card is drawn randomly. A player wins 35 pesos if the number on the card is odd and loses 35 pesos if the number on the card is even. What is the expected value of his winnings?

4. In a deck of cards which consists of cards numbered 1 to 5, a card is drawn randomly. A player wins 35 pesos if the number on the card is odd and loses 35 pesos if the number on the card is even. What is the expected value of his winnings?

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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1. A Random Variable X can take only two values, 1 and 2 .P(1) = 0.8 and P(2) = 0.2 Calculate the Expected value of X. 2. A Random Variable X can take only two values, 1 and 2. P(1) = 0.8 and P(2) = 0.2 Calculate the Variance of X 3. A lottery that pays off 100,000 pesos is made available for 5,000,000 tickets. Each ticket costs 50 pesos. Suppose the variable X gives the net winnings from playing the lottery. What is the expected gain for joining the lottery with only one ticket? 4. In a deck of cards which consists of cards numbered 1 to 5, a card is drawn randomly. A player wins 35 pesos if the number on the card is odd and loses 35 pesos if the number on the card is even. What is the expected value of his winnings?
Transcribed Image Text:1. A Random Variable X can take only two values, 1 and 2 .P(1) = 0.8 and P(2) = 0.2 Calculate the Expected value of X. 2. A Random Variable X can take only two values, 1 and 2. P(1) = 0.8 and P(2) = 0.2 Calculate the Variance of X 3. A lottery that pays off 100,000 pesos is made available for 5,000,000 tickets. Each ticket costs 50 pesos. Suppose the variable X gives the net winnings from playing the lottery. What is the expected gain for joining the lottery with only one ticket? 4. In a deck of cards which consists of cards numbered 1 to 5, a card is drawn randomly. A player wins 35 pesos if the number on the card is odd and loses 35 pesos if the number on the card is even. What is the expected value of his winnings?
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