Lottery: In the New York State Numbers lottery, you pay $3 and can bet that the sum of the numbers that come up is 13. The probability of winning is 0.095, and if you win, you win $7.50, which is a profit of $4.5. 1If you lose, you lose $3. 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-2.29 Part: 1 2 Part 2 of 2 (b) Is it an expected gain or an expected loss? Round the answer to two decimal places. $10 of S This is an expected (Choose one) llo

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

A: In this problem we will be using binomial distribution.  n=15 Now lets assume that X be the random…

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

A: Given that a survey found that 5% of people believe that they have seen a UFO. Probability, p = 5% =…

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Q: A "friend" offers you the following "deal". For a $10 fee, you may pick an envelope From a box…

A: Given- A "friend" offers you the following "deal". For a $10 fee, you may pick an envelope from a…

Q: th What is the probability that you don't find a coupon until your 1o™ try? O A. 0.0347 O B. 0.4167…

A: Given Data Probability of success,p = 0.15

Q: A lottery posted the probabilities of winning each prize and the prize amounts as shown in the chart…

A: We have given the probability of winning a lottery and winning prize.The cost of one lottery ticket…

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…

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A: here given , An insurance company has written 50 policies for $90,000, 100 policies for $30,000, and…

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

Q: Life Insurance A 39-year-old woman purchases a $100,000 term life insurance policy for an annual…

A: The formula to find expected value is as follows,  Expected value = ∑xP(x)

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A: Given that A 40-year-old woman purchases a $200,000 term life insurance policy for an annual payment…

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A: Step 1:Step 2: Step 3: Step 4:

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

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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 20% of people believe that they have seen a UFO. Choose a sample…

A: Given,n=11p=0.20q=1-p=1-0.20=0.80Let X=no.of people who believe  that they haveseen a…

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A: The objective is to compare experimental probability with theoretical probability using the spinner.…

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

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A: Let us assume X= number of times he put the ball in the hole. Number of trials = n= 7 Probability of…

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Q: Question 9 The probability of (E) is 0.97. Find the odds against (E).

A: Answer:9-  Given, the probability P(E) = 0.97                   Find the odds against (E)

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

Q: In playing a game, you win or lose $1 with probability 1/3 each, and with probability 1/3 you win…

A: x=win or lose the game   x PX=x xPX=x x2PX=x Win $1 1 13 0.3333 0.3 Lose $1 -1 13 -0.3333 0.3…