A prize of $100, $200, $400, or $800 will be randomly awarded to a gameshow contestant, with the probabilities of winning each prize shown in thetable below. What is the expected value of the prize that will be awarded?Prize$100 $200 $400 $800Probability 0.20.20.40.2 A. $320O B. $375OC. $380D. $340O O O

We have given that, Let X be the random variable having probability mass function is, Prize (X)…

Answered: A prize of $100, $200, $400, or $800…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

In horse racing, a trifecta is a race in which you must pick the first-, second-, and third-place winners in their proper order to win a payoff. If twelve horses are racing, and you randomly select three as your bet in the trifecta, what is the probability that you will win? (Assume that all horses have the same chance to win.) Question content area bottom Part 1 What is the probability that you will win? enter your response here
Question : John is having a dinner at a restaurant, which sells 3 kinds of dishes, A, B, and C. The probabilities of ordering each dish are 0.4, 0.3, and 0.3. Suppose the probability of John being satisfied after eating the dishes are 0.7, 0.5, and 0.6, respectively. What is the probability that John satisfies after eating the dish? A 0.15 B 0.38 C 0.61 D 0.56 E 0.84 When John wasn’t satisfied with his dish, what is the probability that he has eaten the dish B? (Round an answer to two decimal places.) A 0.15 B 0.38 C 0.61 D 0.56 E 0.84
In an experiment, college students were given either four quarters or a $1 bill and they could either keep the money or spend it on gum. The results are summarized in the table. Complete parts (a) through (c) below. Purchased Gum Kept the Money Students Given Four Quarters 30 11 Students Given a $1 Bill 17 34 a. Find the probability of randomly selecting a student who spent the money, given that the student was given four quarters. The probability is ? (Round to three decimal places as needed.) find the probablity of randomly seloecting a student who spent the money. given that the student was given a $1 bill the probility is ? what do the preceding results suggest?
In an experiment, college students were given either four quarters or a $1 bill and they could either keep the money or spend it on gum. The results are summarized in the table. Complete parts (a) through (c) below. Purchased Gum Kept the Money Students Given Four Quarters 26 14 Students Given a $1 Bill 13 34 a. Find the probability of randomly selecting a student who spent the money, given that the student was given four quarters. The probability is (Round to three decimal places as needed.) b. Find the probability of randomly selecting a student who spent the money, given that the student was given a $1 bilI. The probability is. (Round to three decimal places as needed.) c. What do the preceding results suggest? O A. A student was more likely to be given four quarters than a $1 bill. O B. A student given a $1 bill is more likely to have spent the money than a student given four quarters. O C. A student was more likely to have spent the money than to have kept the money. O D. A…
You go to a carnival and pay $5 to play a game. The probability that you win the game is 0.4. If you win, you get $7. If you lose, you get nothing. Outcome value, x Win $7: Lose: Probability, P P = 0.4 What is the probability that you lose? b. Find the expected value of the game.
Will pays $5 to play a game at an amusement park. He has a 25% chance of winning a $15 basketball. If he misses, he receives nothing. Outcome value Win: Lose: Probability 0.25 a. What is the probability that he will miss/lose? b. Find the expected value of the game.
Side-Impact Hazard In a certain year, 28.4% of all light vehicles were light trucks, 28.4% were SUVS, and 43.2% were cars. The probability that a severe side-impact crash would prove deadly to a driver depended on the type of vehicle he or she was driving at the time, as shown in the table. What is the probability that the victim of a deadly side-impact accident was driving an SUV? (Round your answer to four decimal places.) Light Truck 0.210 SUV 0.371 Car 1.000
A company conducting a survey to determine how prepared people are for a long-term power outage, natural disaster, or terrorist attack. The frequency distribution on the right shows the results. Use the table to answer the questions. what is the probability that the next person surveyed is very prepared?
Buffalo Wild Wings ran a promotion called the Blazin' Bonus, in which every $25 gift card purchased also received a "Bonus" gift card for $5, $15, $25, or $100. According to the company, here are the probabilities for each Bonus gift card. Let X be the amount of money won on the Bonus gift card. Value x, $5 $15 $25 $100 Probability P, 0.890 0.098 0.010 0.002 (a) Calculate and interpret the expected value of X. (b) Calculate and interpret the standard deviation of X. 2.
In a game of chance, players pay $5 for a chance to win one of two prizes: a $100 gift card or a $20 gift card. The probability of winning the $100 gift card is 0.006 and the probability of winning the $20 gift card is 0.07. Find the expected value (win or loss) per game.
Hector plays a game with a friend. They pay $2 and roll a 6-sided die. If the die comes up a 3 or higher, they win $7. If it doesn't, they win nothing. What is the expected value of the game? Give your answer to the closest cent (two decimal places).
A game has an expected value to you of $100.It costs $100 to play, but if you win, you receive $100,000 (including your $100 bet) for a net gain of $99,900.What is the probability of winning? Would you play this game? Discuss the factors that would influence your decision.

SEE MORE QUESTIONS

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

SEE MORE TEXTBOOKS

A prize of $100, $200, $400, or $800 will be randomly awarded to a game show contestant, with the probabilities of winning each prize shown in the table below. What is the expected value of the prize that will be awarded? Prize $100 $200 $400 $800 Probability 0.2 0.2 0.4 0.2