Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $6. If youroll a 3, 4 or 5, you win $5. Otherwise, you pay $3.a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4decimal places where appropriate.ProbabilityDistribution TableXP(X)b. Find the expected profit. $(Round to the nearest cent)c. Interpret the expected value.O This is the most likely amount of money you will win.O You will win this much if you play a game.O If you play many games you will likely win on average very close to $2.50 per game.d. Based on the expected value, should you play this game?O No, this is a gambling game and it is always a bad idea to gamble.O Yes, because you can win $6.00 which is greater than the $3.00 that you can lose.O Yes, since the expected value is positive, you would be very likely to come home with more money ifyou played many games.Yes, since the expected value is 0, you would be very likely to come very close to breaking even ifyou played many games, so you might as well have fun at no cost.O No, since the expected value is negative, you would be very likely to come home with less money ifyou played many games.

Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $6. If you roll a 3, 4 or 5, you win $5. Otherwise, you pay $3. a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate. Probability Distribution Table P(X) b. Find the expected profit. $ (Round to the nearest cent) c. Interpret the expected value. O This is the most likely amount of money you will win. O You will win this much if you play a game. O If you play many games you will likely win on average very close to $2.50 per game.

Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $6. If you roll a 3, 4 or 5, you win $5. Otherwise, you pay $3. a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate. Probability Distribution Table P(X) b. Find the expected profit. $ (Round to the nearest cent) c. Interpret the expected value. O This is the most likely amount of money you will win. O You will win this much if you play a game. O If you play many games you will likely win on average very close to $2.50 per game.

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...

See similar textbooks

Similar questions

Open image in a new tab to make it bigger or zoom in.
68% of all bald eagles survive their first year of life. Give your answers as decimals, not percents. If 31 bald eagles are randomly selected, find the probability thata. Exactly 19 of them survive their first year of life. b. At most 22 of them survive their first year of life. c. At least 19 of them survive their first year of life. d. Between 17 and 24 (including 17 and 24) of them survive their first year of life.
Students randomly receive 1 of 4 versions (A, B, C, D) of a math test. What is the probability that at least 3 of the 5 students tested will get version A of the test? Express your answer as a percent, and round to the nearest tenth. a. 10.4% с. 8.8% b. 1.6% d. 74.7%
Help.
Haroldo, Xerxes, Regina, Shaindel, Murray, and Georgia are invited to a dinner party. They arrive in a random order and all arrive at different times. What is the probability that Xeres arrives first AND Regina arrives last? Answer in decimal form. Round to 3 decimal places as needed.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $7 each and will sell 600 tickets. There is one $1,000 grand prize, three $200 second prizes, and thirteen $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. $
Solve.
74% of all bald eagles survive their first year of life. Give your answers as decimals, not percents. If 37 bald eagles are randomly selected, find the probability thata. Exactly 25 of them survive their first year of life. _____b. At most 26 of them survive their first year of life. _____c. At least 27 of them survive their first year of life. _____d. Between 24 and 28 (including 24 and 28) of them survive their first year of life. _____
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10 each and will sell 800 tickets. There is one $2,000 grand prize, three $400 second prizes, and sixteen $20 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. $ 5.6 Hint: Hint
Lesson 11 Q7 What is the probability of an equally likely event? A.zero B.25% C.50% D.100%