Find the expected value for therandom variable whose probabilityfunction graph is displayed here.AP0.5-0.4-0.3-0.2-0.1-0-What is the expected value of the random variable?(Type an integer or a decimal.)

Answered: Find the expected value for the random…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Can someone solve this using Microsoft Excel? The probability distribution for damage claims paid by the Newton Automobile Insurance Company on collision insurance is as follows. Payment ($) Probability 0 0.85 500 0.04 1,000 0.04 3,000 0.03 5,000 0.02 8,000 0.01 10,000 0.01 Use the expected collision payment to determine the collision insurance premium that would enable the company to break even. The insurance company charges an annual rate of $520 for the collision coverage. What is the expected value of the collision policy for a policyholder? (Hint: It is the expected payments from the company minus the cost of coverage.) Why does the policyholder purchase a collision policy with this expected value?
Based on a survey, assume that 28% of consumers are comfortable having drones deliver their purchases. Suppose that we want to find the probability that when five consumers are randomly selected, exactly three of them are comfortable with delivery by drones. Identify the values of n, x, p, and q. The value of x is 3. (Type an integer or a decimal. Do not round.) The value of p is 0.28 . (Type an integer or a decimal. Do not round.) Question The value of q is (Type an integer or a decimal. Do not round.) Enter your answer in the answer box and then click Check Answer. CinclCh 48 étv 1450
A ping pong ball is drawn at random from an urn consisting of balls numbered 4 through 9. A player wins $1.5 if the number on the ball is odd and loses $1 if the number is even. Let x be the amount of money a player will win/lose when playing this game, where x is negative when the player loses money. (a) Construct the probability distribution table for this game. Round your answers to two decimal places. Outcome Probability P(x) (b) What is the expected value of player's winnings? Round to the nearest hundreth. (c) Interpret the meaning of the expected value in the context of this problem.
Probability Scores 3 7 8 9 10 12 13 0.05 0.25 0.35 0.1 0.05 0.1 0.1 Find the expected value of the above random variable.
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Small aircraft arrive at a certain airport at a rate of 7 per hour. What is the probability that in a given hour arrive six (6) aircrafts? a. 0.149 Ob. 0.060 c. 0.034 d. 0.0912
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The probability distribution of the random variable X represents the number of hits a baseball player obtained in a game for the 2012 baseball season. 1 2 3 4 P(x) 0.1666 0.3437 0.2774 0.1486 0.0384 0.0253
Jack is a good soccer player. The probability that he scores in a game is 0.21. If he plays 22 games this season. What is the probability that he will score in exactly 10 games? O 0.00523 O 0.00214 0.00637 O 0.00620 PISc F12 Vane Beeak F8 F9 F10 F11 F5
For a fundraiser, 1000 raffle tickets are sold for $2 each with a chance to win $200 in cash. You buy 1 ticket. Using this information, complete the probability distribution. Enter the probabilities as fractions using / for the division bar. I - Net Win or Loss P(z) – Probability Win 198 1/1000 Lose 2 999/1000 Round answers to the nearest hundredth, if necessary. 1. What is the expected value? 0.2 2. Is this game fair? No • v 3. The ticket cost $2, so, in the long run, you should expect to lose + v $ 200 4. What is the standard deviation? 0.2
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Find the expected value for the random variable whose probability function graph is displayed here. What is the expected value of the random variable? (Type an integer or a decimal.) 0.5- 0.4- 0.3- 0.2- 0.1- 0- 0 ♫ 2 3 4 5 1 1

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Find the expected value for the random variable whose probability function graph is displayed here. AP 0.5- 0.4- 0.3 0.2- 0.1- What is the expected value of the random variable? (Type an integer or a decimal.)