Lottery: In the New York State Numbers Lottery, you pay $1 and pick a number from 000 to 999. If your number comes up, you win $900, which is a profit of $899. If you lose, you lose $1. Your probability of winning is 0.001. Part: 0 / 2 Part 1 of 2 (a) What is the expected value of your profit? Round the answer to two decimal places. The expected value of profit is X Ś

Lottery: In the New York State Numbers Lottery, you pay $1 and pick a number from 000 to 999. If your number comes up, you win $900, which is a profit of $899. If you lose, you lose $1. Your probability of winning is 0.001. Part: 0 / 2 Part 1 of 2 (a) What is the expected value of your profit? Round the answer to two decimal places. The expected value of profit is X Ś

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

Related questions

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Therefore, based on the logical progression of increasing dosages leading to greater observable…

Q: grab bags a convene store has made up 2o grab bag gifts and is offering them for 2.00$ a bag. ten…

A: Given ten bags contain merchandise worth 1.00$ six bags contain merchandise worth $2'00 four bags…

Q: Auto Repair Insurance A person calls people to ask if they would like to extend their automobile…

A: Given : p = 0.31 q = 1-p = 1 - 0.31 = 0.69 n = 10

Q: In the 2010 US Census, we learn that 13% of all people in the US are 65 years old or older. If we…

A: Solution: Let X be the number of people are 65 or older and n be the sample number of people. From…

Q: Find the probability that there is one H when a fair coin is flipped three times. % (Round the…

A: The objective is to find the probability that there is one H when a fair coin is flipped three…

Q: A company estimates that 0.5% of their products will fail after the original warranty period but…

Q: Sam is practising free-throws in basketball. She has a 4/5 chance of scoring each time she shoots…

Q: Medication Effectiveness A medication is 69% effective against a bacterial infection. Find the…

A: X~ Binomial(n ,p) Then formula P(X = x) = nxpx(1-p)n-x ; x = 0,1,.., n

Q: Find the probability. (Round your answer to four decimal places.) 5 0 5 .9 5

A: As we know that formula of combination is:

Q: Raffle sells 2500 tickets at $8 each winning prizes 30 at $100, 10 at 500$ , one at $8000. your…

A: Tickets sold: 2500Ticket cost: $8 eachPrizes: 30 prizes at $100 each , 10 prizes at $500 each, 1…

Q: 2.16 PB & J: Suppose 82 % of people like peanut butter, 91% like jelly, and 71% like both. Given…

Q: Belief in UFOs A survey found that 5% of people believe that they have seen a UFO. Choose a sample…

A: Given,n=11p=0.05q=1-pq=1-0.05=0.95Let X=no.of people believe that they have seen a…

Q: (a) Find the probability that the client drives less than 10,000 miles/year and has an accident. (b)…

A: The data is given by < 10000 10000 - 20000 20000 < Total Accident 0.06 0.10 0.29 0.45…

Q: Belief in UFOs A survey found that 10% of people believe that they have seen a UFO. Choose a sample…

Q: The average time it takes a salesperson to finish a sale on the phone is 9 minutes and is…

A: 2c) According to the given information,Mean, μ = 9 minutes.Let X be a random variable represents the…

Q: At a raffle, 1,000 tickets are sold at $5 each for three prizes valued at $800, $400, and $200. What…

A: Measure of central tendency are used for description of the data set. The mean is the sum of all the…

Question

Lottery: In the New York State Numbers Lottery, you pay $1 and pick a number from 000 to 999. If your number comes up, you win $900, which is a profit
of $899. If you lose, you lose $1. Your probability of winning is 0.001.
Part: 0 / 2
Part 1 of 2
(a) What is the expected value of your profit? Round the answer to two decimal places.
The expected value of profit is
×

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Given Information:

VIEW

Step 2: Calculate the the expected value of profit:

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 12 images

SEE SOLUTION Check out a sample Q&A here

Follow-up Questions

Read through expert solutions to related follow-up questions below.

Follow-up Question

Part 2 of 2
(b) Is it an expected gain or an expected loss? Round the answer to two decimal places.
This is an expected
gain/loss
of S

Solution

by Bartleby Expert

SEE SOLUTION

Similar questions

W S X Chelp video At LaGuardia Airport for a certain nightly flight, the probability that it will rain is 0.07 and the probability that the flight will be delayed is 0.16. The probability that it will not rain and the flight will leave on time is 0.83. What is the probability that it is raining and the flight is delayed? Round your answer to the nearest thousandth. Answer: # 3 e d 54 $ % 5 t g Submit Answer Oll ^ 6 acer b y h & 7 O n u attempt 1 out of 2 00 8 +- m 9 k %
Pllzz explain. Ty
Belief in UFOS A survey found that 5% of people believe that they have seen a UFO. Choose a sample of 12 people at random. Find the probability of the following. Round intermediate calculations and final answers to at least three decimal places. Part: 0/3 Part 1 of 3 (a) At least 3 people believe that they have seen a UFO P(at least 3 people believe that they have seen a UFO)- Part 2 of 3 (b) 3 or 4 people believe that they have seen a UFO P(3 or 4 people believe that they have seen a UFO)= %3D (c) Exactly 1 person believes that he or she has seen a UFO P(exactly 1 person believes that he or she has seen a UFO)=
Answer part B
At a raffle, 1,000 tickets are sold at $5 each for three prizes valued at $800, $400, and $200. What is the expected gain of one ticket? Interpret the value of the mean in the context. First, complete the Probability Model. Net Gain 795 395 195 -5 Probability find E(z) = interpret E (z):
= O PROBABILITY Conditional probability: Basic It is estimated that 88% of senior citizens suffer from sleep disorders and 8% suffer from anxiety. Moreover, 5% of senior citizens suffer from both sleep disorders and anxiety. Answer the questions below. (If necessary, consult a list of formulas.) (a) Find the probability that a senior citizen suffers from anxiety, given that he or she has sleep disorder. Round your answer to 2 decimal places. (b) Given that a senior citizen suffers from anxiety, what is the probability that he or she also suffers from sleep disorder? Round your answer to 2 decimal places. 0 1/5 X Abigail Españ ? 0 As M
Plzz solve a, b, c questions. And explain. Plzz attempt all questions.