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a. The probability that this student will win some money is places) b. The probability that this student will win at least 1240 is places) c. The most likely amount of money that this student will win is $ (Round to 4 decimal (Round to 4 decimal (Round to the

a. The probability that this student will win some money is places) b. The probability that this student will win at least 1240 is places) c. The most likely amount of money that this student will win is $ (Round to 4 decimal (Round to 4 decimal (Round to the

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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A student has applied for two different scholarships to help pay for college. Let's call them scholarship A and scholarship B. Scholarship A is worth $850 and scholarship B is worth $1240. This student thinks that there is a 62% chance of winning scholarship A, a 23% chance of winning scholarship B. Furthermore, this student believes that chance of winning each scholarship is independent of the other scholarships. (You may use a tree diagram to understand the following 4 possibilities and compute their probabilities in this experiment. Use the first two branches for Scholarship A and the next branches for Scholarship B). Therefore, this student will win none of the two scholarships with a chance of (1-0.62) x (1-0.23) = ? this student will win only scholarship A with a chance of 0.62 x (1-0.23) = ? this student will win only scholarship B with a chance of (1-0.62) x 0.23 = ? this student will win both scholarships with a chance of 0.62 x 0.23 = ? Let random variable X denote the total amount of scholarship money that this student wins. Note that X can be a variety of values ranging from $0 (student doesn't win any of the scholarships) to 2090 (student wins both scholarships). Based on the given information above, fill in the blanks of the following table with proper values for X and their Probabilities. (Round values of P(X) to 4 decimal places). Probability Distribution Table X Sample Space (S) Win Nothing Win Only A Win Only B Win Both 0 850 1240 P(X) 0.2926 0.62 0.23 Make sure that the values in P(X) column of the table are add up to 1. Based on the table, answer the following questions:
Transcribed Image Text:A student has applied for two different scholarships to help pay for college. Let's call them scholarship A and scholarship B. Scholarship A is worth $850 and scholarship B is worth $1240. This student thinks that there is a 62% chance of winning scholarship A, a 23% chance of winning scholarship B. Furthermore, this student believes that chance of winning each scholarship is independent of the other scholarships. (You may use a tree diagram to understand the following 4 possibilities and compute their probabilities in this experiment. Use the first two branches for Scholarship A and the next branches for Scholarship B). Therefore, this student will win none of the two scholarships with a chance of (1-0.62) x (1-0.23) = ? this student will win only scholarship A with a chance of 0.62 x (1-0.23) = ? this student will win only scholarship B with a chance of (1-0.62) x 0.23 = ? this student will win both scholarships with a chance of 0.62 x 0.23 = ? Let random variable X denote the total amount of scholarship money that this student wins. Note that X can be a variety of values ranging from $0 (student doesn't win any of the scholarships) to 2090 (student wins both scholarships). Based on the given information above, fill in the blanks of the following table with proper values for X and their Probabilities. (Round values of P(X) to 4 decimal places). Probability Distribution Table X Sample Space (S) Win Nothing Win Only A Win Only B Win Both 0 850 1240 P(X) 0.2926 0.62 0.23 Make sure that the values in P(X) column of the table are add up to 1. Based on the table, answer the following questions:
Make sure that the values in P(X) column of the table are add up to 1. Based on the table, answer the following questions: a. The probability that this student will win some money is places) b. The probability that this student will win at least 1240 is places) c. The most likely amount of money that this student will win is $ nearest cent) d. The expected (average) amount of money the student will win $ nearest cent (Round to 4 decimal (Round to 4 decimal (Round to the (Round to the
Transcribed Image Text:Make sure that the values in P(X) column of the table are add up to 1. Based on the table, answer the following questions: a. The probability that this student will win some money is places) b. The probability that this student will win at least 1240 is places) c. The most likely amount of money that this student will win is $ nearest cent) d. The expected (average) amount of money the student will win $ nearest cent (Round to 4 decimal (Round to 4 decimal (Round to the (Round to the
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