Kở re 13-18. A player tosses two fair coins. He wins Rs. 5 if 2 heads occur, Rs. 2 if 1 head occursnd Re. 1 if no head occurs.() Find his expected gain.(i) How much should he pay to play the game if it is to be fair ?

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Answered: me Ku re 13-18. A player tosses two…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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C and D are events with P(C) = 0.4 and P(D) = 0.5 and P(C|D) = 0.6.For each part, show how you derive your answer. Show formulas if appropriate. (a) Find P(C and D) (b) Find P(D|C)
Suppose you decided to play a gambling game. In order to play the game there is a $1.00 dollar fee to play. If you roll a 1, 2, or 3 you win nothing (i.e., your net profit is $-1.00). If you roll a 4 or 5, you win $2.50 (i.e., your net profit is $1.50). If you roll a 6 you win $4.00 (i.e., your net profit is $3.00).Use the information described above to construct a probability distribution table for the random variable xx which represents the net profit of your winnings. Note: Be sure to enter your probabilities as reduced fractions. Die Roll xx P(x)P(x) Roll a 1, 2, or 3 Roll a 4 or 5 Roll a 6 Find the amount you would expect to win or lose each time you played the game. Round your final answer to two decimal places.μ=
Suppose you decided to play a gambling game. In order to play the game there is a $1.50 dollar fee to play. If you roll a 1, 2, or 3 you win nothing (i.e., your net profit is $-1.50). If you roll a 4 or 5, you win $3.50 (i.e., your net profit is $2.00). If you roll a 6 you win $5.00 (i.e., your net profit is $3.50).Use the information described above to construct a probability distribution table for the random variable xx which represents the net profit of your winnings. Note: Be sure to enter your probabilities as reduced fractions. Die Roll xx P(x) Roll a 1, 2, or 3 Roll a 4 or 5 Roll a 6 Find the amount you would expect to win or lose each time you played the game. Round your final answer to two decimal places.μ=
Q1: Many drivers of cars that can run on regular gas actually buy premium in the belief that they will get better gas mileage. To test that belief, we use 10 cars in a company fleet in which all the cars run on regular gas. Each car is filled first with either regular or premium gasoline, decided by a coin toss, and the mileage for that tank-full is recorded. Then the mileage is recorded again for the same cars for a tank-full of the other kind of gasoline. We don’t let the drivers know about this experiment. Here are the results in miles per gallon: Regular Premium 16 19 20 22 21 24 22 24 23 25 22 25 27 26 25 26 27 28 28 32 Is there evidence that cars get significantly better fuel economy with premium gasoline? Use 0.05 level of significance and a test. Write an appropriate hypothesis test for this situation and…
A player tosses two fair coins. He wins $ 5 if 2 heads occur, $ 2 if 1 head occurs and 1 if no head occurs. (i) (ii) Find his expected gain. How much should he pay to play the game if it is to be fair?
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Find the expected payback for a game in which you bet $6 on any number from 0 to 499. If your number comes up, you get $500. The expected payback is $ (Round to the nearest cent as needed.)
In a gambling game, I roll two dice and win $1 if the sum of my two rolls is largerthan 7. I lose $1 if the sum of my two rolls is smaller than 7. In any bother cases, Idon’t lose or win anything. I am going to repeat this game 72 times. The average of the tickets in the box from (c) is ___________ and the SD is___________. What is the chance I win at most 26 times? Use the normal approximation tocalculate your answer.___________%
A game costs $1 to play where you win $5 when a coin lands on heads but lose $6 when a coin lands on tails. Calculate the expected payoff to the nearest cent, being sure to show all work.
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me Ku re 13-18. A player tosses two fair coins. He wins Rs. 5 if 2 heads occur, Rs. 2 if 1 head occurs nd Re. 1 if no head occurs. (1) Find his expected gain. (i) How much should he pay to play the game if it is to be fair ?