What is the correct interpretation of the expected cash prize?A. You will win $0.30 on every lottery ticket.B. On average, you will profit $0.30 per lottery ticket.C. On average, you will win $0.30 per lottery ticket.The expected profit from one $1 ticket is $ (cash prize, $)Grand prize200,00010,000100P(x)For a multistate lottery, the following probabilitydistribution represents the cash prizes of the lotterywith their corresponding probabilities. Complete parts(a) through (c) below.0.000000006870.000000340.0000018460.00014668170.00440877740.0076716590.018471310.969299380133

Answered: For a multistate lottery, the following…

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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In a trial of 150 patients who received 10-mg doses of a drug daily, 48 reported a headache as a side effect. Use the information above to complete parts (a) through (c). a. Construct a 95% confidence interval for the population proportion of drug users who will report a headache as a side effect. The confidence interval is from to (Use ascending order. Round to three decimal places as needed.) c. Interpret the confidence interval. Choose the correct answer below. O A. We are 95% confident that the interval actually does contain the true value of p. O B. We are 95% confident that the interval actually does not contain the true value of p. Oc. There is a 95% chance that the true value of p will fall in the interval. O D. There is a 95% chance that the true value of p will not fall in the interval.
Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $15. If you roll a 3, 4 or 5, you win $1. Otherwise, you pay $10. a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate. Probability Distribution Table X P(X) b. Find the expected profit. $ (Round to the nearest cent) c. Interpret the expected value. This is the most likely amount of money you will win. O If you play many games you will likely lose on average very close to $0.33 per game. O You will win this much if you play a game. d. Based on the expected value, should you play this game? O No, this is a gambling game and it is always a bad idea to gamble. O Yes, since the expected value is positive, you would be very likely to come home with more money if you played many games. O Yes, because you can win $15.00 which is greater than the $10.00 that you can lose. O Yes, since the expected value is 0,…
Let X = {Email, In Person, Instant Message, Text Message}; P(Email) = 0.06 P(In Person) = 0.55 P(Instant Message) = 0.24 P(Text Message) = 0.15 Is this model a probability distribution? A. Yes. B. No. C. Maybe.
A deck of four (4) cards has exactly one (1) color printed on each face – blue, yellow, red, or green. You have two (2) identical decks of this type. In this game, you randomly select a card from each of the two decks. Your score is the number of blue cards drawn – refer to this quantity as X. The probability distribution is below: X P(X) 0 0.5625 1 0.375 2 0.0625 What is the average number of blue cards drawn? What is the probability that at most one blue card is drawn?
The number of sodas a vendor sells daily has the probability distribution represented in the table. Number of Sodas, x 0 5 10 15 20 25 P(x) 0.01 0.15 0.25 0.3 0.25 0.04 If each soda sells for $2.50, what is the expected daily total dollar amount taken in by the vendor from the sale of sodas? $2.50 $34.38 $13.75 $31.25
Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $9. If you roll a 3, 4 or 5, you win $2. Otherwise, you pay $3.a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate. Probability Distribution Table X P(X) b. Find the expected profit. $ (Round to the nearest cent)c. Interpret the expected value. You will win this much if you play a game. If you play many games, on average, you will likely win, or lose if negative, close to this amount. This is the most likely amount of money you will win. d. Based on the expected value, should you play this game? No, this is a gambling game and it is always a bad idea to gamble. Yes, because you can win $9.00 which is greater than the $3.00 that you can lose. No, since the expected value is negative, you would be very likely to come home with less money if you played many games. Yes,…
Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $7. If you roll a 2, 3, 4 or 5, you win $3. Otherwise, you pay $10.a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate. Probability Distribution Table X P(X) b. Find the expected profit. $ (Round to the nearest cent)c. Interpret the expected value. This is the most likely amount of money you will win. If you play many games you will likely win on average very close to $1.50 per game. You will win this much if you play a game. d. Based on the expected value, should you play this game? No, this is a gambling game and it is always a bad idea to gamble. Yes, because you can win $7.00 which is greater than the $10.00 that you can lose. Yes, since the expected value is 0, you would be very likely to come very close to breaking even if you played many games, so you might as…
A ballet instructor is interested in knowing what percent of each year's class will continue on to the next, so that she can plan what classes to offer. Over the years, she has established the following probability distribution. • Let X = the number of years a student will study ballet with the teacher. • Let P(x) = the probability that a student will study ballet x years. Complete the table below using the data provided. (Enter exact numbers as integers, fractions, or decimals.) x P(x) x*P(x) 1 0.10 2 0.10 3 0.20 4 5 0.20 6 0.20 7 0.05
Calculate the probability of 3 or 4 based on the following probability distribution. 1 4 p(x) 0.2 0.1 0.3 0.8 O0.6 O 0.7 er
A deck of four (4) cards has exactly one (1) color printed on each face – blue, yellow, red, or green. You have two (2) identical decks of this type. In this game, you randomly select a card from each of the two decks. Your score is the number of blue cards drawn – refer to this quantity as X. The probability distribution is below: X P(X) 0 0.5625 1 0.375 2 0.0625 1. If we replaced the yellow card in the first deck with another blue card, what would be the probability of drawing two blue cards? 2. If we replaced the yellow card in the first deck with another blue card, what distribution would the variable X follow?
Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $17. If you roll a 2, 3, 4 or 5, you win $4. Otherwise, you pay $6. a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate. Probability Distribution Table P(X) b. Find the expected profit. $ (Round to the nearest cent) c. Interpret the expected value. O This is the most likely amount of money you will win. Oif you play many games you will likely win on average very close to $4.50 per game. O You will win this much if you play a game. d. Based on the expected value, should you play this game? O No, since the expected value is negative, you would be very likely to come home with less money if you played many games. O Yes, since the expected value is positive, you would be very likely to come home with more money if you played many games. O No, this is a gambling game and it is always a bad idea to gamble.…

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