A player pays $10 to roll two six-sided dice. She wins $50 if she rolls a sum of 10 and$20 if she rolls a sum of 8. Given the probability distribution for the game (below),compute the expected value of the game to the nearest cent.$40$10-$10P(X) 3/365/3628/36

Answered: Image /qna-images/answer/5f4d7501-9834-40d2-8439-167001935737.jpg

Answered: A player pays $10 to roll two six-sided…

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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Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $15. If you roll a 3, 4 or 5, you win $1. Otherwise, you pay $10. a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate. Probability Distribution Table X P(X) b. Find the expected profit. $ (Round to the nearest cent) c. Interpret the expected value. This is the most likely amount of money you will win. O If you play many games you will likely lose on average very close to $0.33 per game. O You will win this much if you play a game. d. Based on the expected value, should you play this game? O No, this is a gambling game and it is always a bad idea to gamble. O Yes, since the expected value is positive, you would be very likely to come home with more money if you played many games. O Yes, because you can win $15.00 which is greater than the $10.00 that you can lose. O Yes, since the expected value is 0,…
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A farmer knows that 15% of the apples in his orchard have worms. He randomly selects 5 apples from the orchard. What is the probability exactly 2 of the selected apples have worms? Round to one decimal place. 0.2% 2.4% 13.8% 39.2%
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A player pays $10 to roll two six-sided dice. She wins $50 if she rolls a sum of 10 and $20 if she rolls a sum of 8. Given the probability distribution for the game (below), compute the expected value of the game to the nearest cent. $40 $10 -$10 P(X) 3/36 5/36 28/36