grade 12 data how do I go from payout to P(X) ? then from that to xP(x)/E(X)? how do you get these numbers? whats the formula? Theoretical distribution:Cost to play: $5PayoutP(X)xP(x)/E(X)Outcome$150.0250.375Value of all three items matchEither all values odd or even$51.57.5Value of 2 of 3 items match$519/10=1.99.5Values are in increasing order$1038/60=0.636.3

how do I go from payout to P(X) ? the P(x) here stands for probability of event x it is usually…

Answered: grade 12 data how do I go from payout…

grade 12 data how do I go from payout to P(X) ? then from that to xP(x)/E(X)? how do you get these numbers? whats the formula?

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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Concept explainers

Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.

Question

grade 12 data

how do I go from payout to P(X) ? then from that to xP(x)/E(X)?

how do you get these numbers? whats the formula?

Theoretical distribution:
Cost to play: $5
Payout
P(X)
xP(x)/E(X)
Outcome
$15
0.025
0.375
Value of all three items match
Either all values odd or even
$5
1.5
7.5
Value of 2 of 3 items match
$5
19/10=1.9
9.5
Values are in increasing order
$10
38/60=0.63
6.3

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