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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
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?
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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