A prize of $100, $200, $500, or $1000 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 $500 $1000Probability1155.A. $460B. $380C. $400D. $560

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Answered: A prize of $100, $200, $500, or $1000…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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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. Students Given Four Quarters Students Given a $1 Bill Purchased Gum Kept the Money 27 19 16 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.)
Flights depart on schedule 92% of the time. Flights arrive on schedule 85% of the time. Flights depart and arrive on schedule 80% of the time. What is the probability that a flight arrived on schedule, given that it departed on schedule?
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.
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.
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 $400. It costs $400 to play, but if you win you receive $100,000 (including your $400 bet), for a net gain of $99,600. What is the probability of winning?
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 14 26 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.)
A gas station recently sent out "scratch and save" coupons through the mail. The coupons offer customers varying discounts off a 30-liter fuel purchase. The discounts, and the probabilities of receiving them, are shown below: $1 Discount Probability 0.41 What is the probability of receiving a discount of at least $4? $2 0.26 $3 $4 0.15 0.13 $5 k
A gambling game involves a spinner with the numbers 1 through 25. To play, the player guesses which numbers the spinner will land on. The table shows the probability of each payout amount. To the nearest dollar, what is the expected payout of the game? Payout Amount Probability $100 0.136 $3,200 0.029 $160,000 0.0005 Provide your answer below:
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 29 15 Students Given a $1 Bill 18 27 a. Find the probability of randomly selecting a student who spent the money, given that the student was given a $1 bill. The probability is (Round to three decimal places as needed.) b. Find the probability of randomly selecting a student who kept the money, given that the student was given a $1 bill. The probability is (Round to three decimal places as needed.) c. What do the preceding results suggest? A. A student given a $1 bill is more likely to have kept the money than a student given four quarters. 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 given a $1 bill is more likely to have kept the money. O D.…
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 Students Given a $1 Bill 26 13 18 35 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 kept the money, given that the student was given four quarters. The probability is (Round to three decimal places as needed.) c. 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 26 Kept the Money Students Given Four Quarters Students Given a $1 Bill 16 14 31 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.)

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