**Problem Statement:**_I own a bar by Raymond James Stadium when the Bucs play. I do a lot of business on game day. If the Bucs win, 1000 people come in. If the Bucs lose, 300 people come in. This Sunday I give the Bucs an 80% chance of winning and a 20% chance of losing. What is the expected value for the number of people that come into the bar this Sunday?_**Solution Explanation:**To find the expected value, we use the formula for the expected value of a discrete random variable:**Expected Value (E) = (Probability of Event 1 × Value of Event 1) + (Probability of Event 2 × Value of Event 2)**Here, the two events are:1. The Bucs win.2. The Bucs lose.We are given:- Probability of the Bucs winning (P(Win)) = 80% = 0.8- Probability of the Bucs losing (P(Lose)) = 20% = 0.2- Number of people if the Bucs win = 1000- Number of people if the Bucs lose = 300Plugging these values into the formula:**Expected Value (E) = (0.8 × 1000) + (0.2 × 300)**Calculate each term:- (0.8 × 1000) = 800- (0.2 × 300) = 60Therefore:**Expected Value (E) = 800 + 60****Expected Value (E) = 860****Conclusion:**The expected value for the number of people that come into the bar this Sunday is 860.

Name: **Problem Statement:**_I own a bar by Raymond James Stadium when the
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Description: **Problem Statement:**_I own a bar by Raymond James Stadium when the Bucs play. I do a lot of business on game day. If the Bucs win, 1000 people come in. If the Bucs lose, 300 people come in. This Sunday I give the Bucs an 80% chance of winning and

Let X be the discrete random variable with the probability value P(X=xi). The expected value is…

Math

Statistics

I own a bar by Raymond James Stadium when the Bucs play. I do a lot of business game day. If the Bucs win, 1000 people come in. If the Bucs lose, 300 people come in. This Sunday I give the Bucs a 80% chance of winning a 20% chance of losing. What is the expected value for the number of people that come into bar this Sunday?

I own a bar by Raymond James Stadium when the Bucs play. I do a lot of business game day. If the Bucs win, 1000 people come in. If the Bucs lose, 300 people come in. This Sunday I give the Bucs a 80% chance of winning a 20% chance of losing. What is the expected value for the number of people that come into bar this Sunday?

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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