In some game, a gambler can bet on which of 38 numbers will be the result of a random selection. On a $5 bet, a gambler gains $52 if he or she picks the right number but loses the $5 otherwise.(a) Let X = amount gained or lost on a $5 bet on a roulette number. Write out the probability distribution of X.k$52-$5P(X = k)(b) Calculate E(X), the mean value of X. (Round the answer to four decimal places.)E(X) =What does this value indicate about the advantage that a casino has over roulette players?In the long run, the average outcome will be that players lose aboutcents to the casino per $5 bet.

The objective of the question is to determine the probability distribution of the amount gained or…

Answered: In some game, a gambler can bet on…

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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Consider the situation that two events A and B are independent. P(A) = 0.2 and P(B)= 0.5. What is the probability that both events A and B occur?
Two dice are rolled at the same time. Find the probability of each event listed when the probability is given as P(die 1, die 2). For example, if you want to know the probability that you roll a 3 on the first die and and a 5 on the second die, it would be written as P(3, 5). Give your answer as a decimal rounded to the thousandth place (three numbers after the decimal). P(1, 1) = P(both odd) P(even, odd): P(2 anywhere) = P(sum of 8) = P(sum of 1) =
A gambler uses theory to calculate the probability of winning a card game and gets P(winning) = 0.10. Which option best describes the meaning of this probability? A. He will win 10 times B. In the long run he will win approximately 10% of the time C. He will win on every 10th play D. He is guaranteed to win exactly 10% of the time
A daycare provider has determined that 80% of the children in her care develop colds each winter. This year there are 40 children at the daycare. What is the probability that fewer than 30 children will develops colds this winter? Please explain. Options A. 0.2148 B. 0.2852 C. 0.5704 D. 0.4297
Use the following table for the next two questions. The following data represent the number of male and female students enrolled in nursing at the University of Oklahoma Health Sciences Center for a recent semester. A student is selected at random. Find the probability of each event. Nursing majors 180 1010 1190 Males Females Totals 23. The student is a male or nursing majors? (a) 1.0222 (b) 0.6200 (c) 0.6101 (d) 0.5750 Non-nursing majors 1110 1700 2810 Totals 1290 2710 4000 (e) 0.0450 24. Given that the selected student is female, find the probability that the student is a nursing major? (e) 0.1200 (a) 0.0380 (b) 0.2525 (c) 0.3727 (d) 0.9772
Oscar is playing a simple card game. The game is played by the player picking a card from a deck. If the player picks any face cards, they wins $20. If the player picks any other cards, they lose $10. Let X be the random variable representing the $ amount Oscar will win/ lose from this game. (a) Fill in the probability distribution of X. Leave the probability as a fraction. X P(X) Win $ Lose $ (b) Calculate the expected value of X. Round your answer to the nearest hundredth of a dollar. (for example if the answer is 43.5478, then round to 43.55). The expected value is $
The table below shows the probability of winning 0-5 dollars playing a game. Amount Won ($) 0 1 2 3 4 5 Probability 4/24 7/24 7/24 3/24 2/24 1/24 The stallholder charges $2.50 for each playing of the game. How much money can the stallholder expect to make for the charity on a day when there are 400 plays of the game?

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