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b. Does this imply that the contestant has a 0.5 probability of winning more than $131,478 and a 0.5 probability of winning less than $131,478? Explain. Round your answers to three decimal places, if required The probability of winning more than $131,478 is

b. Does this imply that the contestant has a 0.5 probability of winning more than $131,478 and a 0.5 probability of winning less than $131,478? Explain. Round your answers to three decimal places, if required The probability of winning more than $131,478 is

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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b. Does this imply that the contestant has a 0.5 probability of winning more than $131,478 and a 0.5 probability of winning less than $131,478? Explain. Round your answers to three decimal places, if required The probability of winning more than $131,478 is
Transcribed Image Text:b. Does this imply that the contestant has a 0.5 probability of winning more than $131,478 and a 0.5 probability of winning less than $131,478? Explain. Round your answers to three decimal places, if required The probability of winning more than $131,478 is
On the television game show Deal or No Deal, a contestant chooses from among 26 suitcases, each of which contains a dollar amount. Those 26 amounts (in order) are given below. 0.01 300 75,000 1 400 100,000 500 200,000 10 750 300,000 25 1000 400,000 50 5000 500,000 75 10,000 750,000 100 25,000 1,000,000 200 50,000 If one of these 26 prizes is selected at random (so that all 26 prizes are equally likely), the expected value of these prize amounts is equal to this mean: $131,478.
Transcribed Image Text:On the television game show Deal or No Deal, a contestant chooses from among 26 suitcases, each of which contains a dollar amount. Those 26 amounts (in order) are given below. 0.01 300 75,000 1 400 100,000 500 200,000 10 750 300,000 25 1000 400,000 50 5000 500,000 75 10,000 750,000 100 25,000 1,000,000 200 50,000 If one of these 26 prizes is selected at random (so that all 26 prizes are equally likely), the expected value of these prize amounts is equal to this mean: $131,478.
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