Homework Help is Here – Start Your Trial Now!
Math
Statistics
In an amusument park, persons willing to participate are offered a game which consists of two consecutive penalty 3- shootout. Ahmed wants to take part in this game. At the first shot, he believes that he has a 60% chance to make a goal, from which he can earn $1200, if successful. At the second shoot, he believes that he has a 70% chance to make a goal which can bring him 1700$ should he achieve the goal. What is his expected revenue based on his own probability belief? Assume that the shoots are independent of each other

In an amusument park, persons willing to participate are offered a game which consists of two consecutive penalty 3- shootout. Ahmed wants to take part in this game. At the first shot, he believes that he has a 60% chance to make a goal, from which he can earn $1200, if successful. At the second shoot, he believes that he has a 70% chance to make a goal which can bring him 1700$ should he achieve the goal. What is his expected revenue based on his own probability belief? Assume that the shoots are independent of each other

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
See similar textbooks
icon
Related questions
Question
100%
In an amusument park, persons willing to participate are offered a game which consists of two consecutive penalty 3- shootout. Ahmed wants to take part in this game. At the first shot, he believes that he has a 60% chance to make a goal, from which he can earn $1200, if successful. At the second shoot, he believes that he has a 70% chance to make a goal which can bring him 1700$ should he achieve the goal. What is his expected revenue based on his own probability belief? Assume that the shoots are independent of each other
Transcribed Image Text:In an amusument park, persons willing to participate are offered a game which consists of two consecutive penalty 3- shootout. Ahmed wants to take part in this game. At the first shot, he believes that he has a 60% chance to make a goal, from which he can earn $1200, if successful. At the second shoot, he believes that he has a 70% chance to make a goal which can bring him 1700$ should he achieve the goal. What is his expected revenue based on his own probability belief? Assume that the shoots are independent of each other
a) O 3100 b) O 2750 c) O 1910 d) O 1230 e) O 2950
Transcribed Image Text:a) O 3100 b) O 2750 c) O 1910 d) O 1230 e) O 2950
Expert Solution
Step 1

Statistics homework question answer, step 1, image 1

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS