Let the random variable X represent the amount of money won or lost for a player who pays $1 to play a certain carnival game. The following table shows the probability distribution of X Amount -$1 $1 $10 Probability 0.80 0.15 Which of the following statements is the best interpretation of the mean of X? 0.05
Let the random variable X represent the amount of money won or lost for a player who pays $1 to play a certain carnival game. The following table shows the probability distribution of X Amount -$1 $1 $10 Probability 0.80 0.15 Which of the following statements is the best interpretation of the mean of X? 0.05
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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WHAT IS THE CORRECT ANSWER
A. In the long run, a player will lose an average of $0.15 per carnival game played.
B. In the long run, a player will gain an average of $0.15 per carnival game played.
C. In the long run, a player will lose an average of $0.80 per carnival game played.
D. In the long run, a player will gain an average of $0.80 per carnival game played.
E. In the long run, players will lose $1 about 80 percent of the time.
![Let the random variable X represent the amount of money won or lost for a player who pays $1 to play a
certain carnival game. The following table shows the probability distribution of X
Amount
-$1
$1
$10
Probability
0.80
0.15
0.05
Which of the following statements is the best interpretation of the mean of X?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F73fc84ba-31f2-4c34-9d71-484f34e776ea%2F13a9c6bc-8188-4b1a-a1da-9c7a63c72cc2%2Fu8ttunf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Let the random variable X represent the amount of money won or lost for a player who pays $1 to play a
certain carnival game. The following table shows the probability distribution of X
Amount
-$1
$1
$10
Probability
0.80
0.15
0.05
Which of the following statements is the best interpretation of the mean of X?
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