In the game of roulette, a player can place a $7 bet on the number 3 and have a$7 paid to play the game and the player is awarded an additional $245. Otherwise, the player is awarded nothing and the casino takes the player's $7. Find theexpected value E(x) to the player for one play of the game. If x is the gain to a player in a game of chance, then E(x) is usually negative. This value gives theaverage amount per game the player can expect to lose.probability of winning. If the metal ball lands on 3, the player gets to keep the38The expected value is $(Round to the nearest cent as needed.)Clear AllCheck AnswerGet More Help-View an ExampleHelp Me Solve This619090°Fato search

Given : The player awarded for winning amount is $245 The probability that player winning the game…

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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What best describes the relationship between the calculated theoretical probability and the empirical probability? a The theoretical probability must always equal the empirical probability. b The theoretical probability will never equal the empirical probability. c The empirical probability should get closer to the theoretical probability the more times you do the experiment. d The empirical probability describes what should happen and the theoretical probability describes what was observed.
The figure below shows survival probabilities from all-cause mortality over 20 years in participants over 50 years of age who have normal glucose, glucose intolerance, and Type II diabetes mellitus. Estimate the 5-year survival probability for Type II diabetes. a. approximately 10% b. approximately 60% c. approximately 76% d. approximately 84%
In the “Expected” column, type in a formula that will calculate the numbers you would expect to have if the total number of females and males caught were equal (this will be based on the total number of adult crabs caught).
4.43 Consider the probability distribution for the random vari- able x shown here: 2 .4 10 .2 1 4 P(x) 2
The chance of an IRS audit for a tax return with over $25,000 in income is about 2% per year. We are interested in the expected number of audits a person with that income has in a 16-year period. Assume each year is independent. Part (a) Part (b) List the values that X may take on. X=0, 1, 2,..., 15, 16 OX= 1, 2, 3, OX= 1, 2, 3, OX=1,2,3,... 15, 16 98, 99, 100 Part (c) Give the distribution of X X-B 0.02 □ Part (d) How many audits are expected in a 16-year period? (Round your answer to two decimal places.) 0.32 audits Part (e) Find the probability that a person is not audited at all. (Round your answer to four decimal places.) Part (1) Find the probability that a person is audited more than twice. (Round your answer to four decimal places.)
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Which of the following decreases the chances a person should purchase life insurance? O No dependents O Large savings O Low debt All of these O Paid off mortgage
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