Provide an appropriate response.14. In a game, you have a 1/36 probability of winning s85 and a 35/36 probability oflosing $4. What is your expected value?Solve the problem.15, A 28-year-old man pays s207 for a one-year life insurance policy with coverage ofs70,000. If the probability that he will live through the year is o.9994, what is theexpected value for the insurance policy?

From the given data Find ( 14 ) Expected value =?

Answered: Provide an appropriate response. 14. In…

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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Provide an appropriate response. 14. In a game, you have a 1/36 probability of winning s85 and a 35/36 probability of losing $4. What is your expected value?