please type in your hand clearly so I can understand the formula and explanation thank you Consider the following game. A fair coin is flipped until the first tail appears; we win $2 if it appears on the first toss, $4 if it appears on the second toss, and in general if it first occurs on the k-th toss. Let the random variable X denote our winning. How much should we have to pay in order for this to be a fair game? Note: A fair game is one where the difference between the ante and E(X) is 0

please type in your hand clearly so I can understand the formula and explanation thank you Consider the following game. A fair coin is flipped until the first tail appears; we win $2 if it appears on the first toss, $4 if it appears on the second toss, and in general if it first occurs on the k-th toss. Let the random variable X denote our winning. How much should we have to pay in order for this to be a fair game? Note: A fair game is one where the difference between the ante and E(X) is 0

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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Play this game with a partner. The first player marks down 1, 2, 3, or 4 dots on a sheet of paper. The second player then adds to this by marking down 1, 2, 3, or 4 more dots. The first player to exceed a total of 30 loses the game. Can the first player or the second player devise a surefire winning strategy? Explain carefully. Which player can definitely devise a surefire winning strategy? Use the Show Work learning aid to provide related calculations and additional reasoning to support your answer. O A. None B. The second player OC. Both OD. The first player
Task One Consider the following terms: Probability, Conditional probability, Subjective probability and A priori probability Using appropriate equations and text, we’d like you to write down a definition for each of the terms. Consider each of the situations below. Describe which type of probability is represented by each situation, that is, empirical, subjective or a priori. When you have decided on each type, we’d like you to write an answer that summarises the reasons for your decisions. The probability that rates of return on the FTSE 100 are greater than the UK government 30-day Treasury bill for the period 1950 to 2018. The probability of default on a corporate bond for a company that you have been analysing for the past twelve months. The probability of an outcome where shareholders at a company’s Annual General Meeting are voting about a forthcoming merger. Information is available on the way relative proportions of shareholders voted with respect to a previous similar…
Follow the instructions. Do not answer if you already answered this, i'll give downvote if i see the same answers. If you answer this completely, i'll upvote. Incomplete is downvote. Typewritten for upvote. No upvote for handwritten. Thank you
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which one is correct?plz explain
Probability of the Union of Two Sets Conceptual Overview: Explore how the probability of the union of two events equals the probability that either event occurs. The two circles shown below represent two events, A and B. The area of each circle represents the probability of the event. With no overlap you can see that the probability of one or the other of the two events (the union of A and B) written as P(A U B) is the sum of their probabilities. The union is often described as an "OR" statement. The union is the probability of A occurring OR B occurring OR both A and B occurring simultaneously (their intersection). Drag one of the circles so that the circles begin to overlap. You will see that the probability of the union decreases because some probability is included in both sets (their intersection). You can also drag the letter for each set to change its size and thus its probability. P(A) = 0.129, P(B) = 0.067, P(A U B) = 0.195 B
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