The Triple L investment club is considering purchasing a certain stock. After considerable research, the club members determine that there is a 60%Chance of making $9,000, a 20% chance of breaking even, and a 20% chance of losing $6,800. Find the expectation of this purchase.The expected value is $***

The provided information is represented in the following table: Purchase (Profit) X…

Answered: The expected value is $

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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Similar questions

carina is playing a game that costs $10 to play. what is the expected value of this game, taking into consideration the $10 cost of playing the game?
In the game of one-spot keno, a card is purchased for $1. It allows a player to choose one number from 1 to A dealer then chooses twenty numbers at random. If the players number is among those chosen, the player is paid $3.20, but does not get to keep the $1 paid to play the game. Find the expected value of a $1bet. Describe what this means.
Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are clubs, your friend will pay you $765$⁢765. Otherwise, you have to pay your friend $46$⁢46. Step 1 of 2 : What is the expected value of your bet? Round your answer to two decimal places. Losses must be expressed as negative values.
Expected Value: A basketball player has a 60% chance of making a free throw. Each successful free throw is worth 1 point. If the player attempts 5 free throws in a game, what is the expected number of points scored from free throws?
Your school is selling raffle tickets as a fundraiser. They sell tickets for $5 each, there are 10 winners for $20, 5 winners for $30, and 1 winner for $100. If 200 tickets are sold what is your expected value?
In finance the notion of expected value is used to analyze investments for which the investor has an estimate of the chances associated with various returns (and losses). For example, suppose you have the following information about one of your investments: With a probability of 0.7, the investment will return 90 cents for every dollar you invest, and with a probability of 0.3, the investment will lose 30 cents for every dollar you invest. The expected rate of return for this investment is calculated the way we calculate the expected value of a game: Multiply the probability of each outcome by the amount you earn (or by minus the amount if you lose) and add up these numbers.Calculate the expected rate of return for the investment described above.
In a game you have a 1/99 probability of winning $500 and a 98/99 probability of losing $30. What is your expected value?
It is estimated that there are 31 deaths for every 10 million people who use airplanes. A company that sells flight insurance provides $100,000 in case of death in a plane crash. A policy can be purchased for $1. Calculate the expected value and thereby determine how much the insurance company can make over the long run for each policy that it sells. POSSIDIE possib The expected value is $ (Round to the nearest cent.) Next Ce ) backspace 98888 & C@ #3 $4 8. 6. 3. { 大

If a player rolls 2 dice and gets a sum of 3 or 11, he wins $10. If he gets a sum of 7, he pays $5. What is his expected value?
How many different selections are possible? What is the probability of winning? If you win, what is your net profit? Find the expected value.
Five hundred raffle tickets are sold for $1 each, for a first prize of $200 and two second prizes of $50 each. What is the expected value if you purchase one ticket?
You draw and keep a single coin from a bowl that contains 12 pennies, 9 dimes, and 20 quarters. What is the expected value to you?

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