Round your answers to 4 decimal digits. An author has written a book and submitted it to a publisher. The publisher offers to print the book and gives the author the choice between a flat payment of $10,000 and a royalty plan. Under the royalty plan, the author would receive $1 for each copy of the book sold. The author thinks that the following table gives the probability distribution of the variable x = the number of books that will be sold: x 1000 5000 10,000 20,000 p(x) .05 .30 .40 .25

Round your answers to 4 decimal digits. An author has written a book and submitted it to a publisher. The publisher offers to print the book and gives the author the choice between a flat payment of $10,000 and a royalty plan. Under the royalty plan, the author would receive $1 for each copy of the book sold. The author thinks that the following table gives the probability distribution of the variable x = the number of books that will be sold: x 1000 5000 10,000 20,000 p(x) .05 .30 .40 .25

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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The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each and will sell 600 tickets. There is one $2,000 grand prize, two $200 second prizes, and twelve $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
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