The probability that Mary will win a game is 0.05, so the probability that she will not win is 0.95. If Mary wins, she will be given $140; if she loses, she must pay $9. If X = amount of money Mary wins(or loses), what is the expected value of X? (Round your answer to the nearest cent.)$

The objective of this question is to calculate the expected value of the amount of money Mary wins…

Answered: The probability that Mary will win a…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

You buy a lottery ticket that costs $20. There are only 100 tickets available to be sold in this lottery. There are three $500 prizes, 4 $100 prizes, and 10 $20 prizes. Find your expected gain or loss. Round your answer to 2 decimal places. Please do not include the dollar sign in your answer (Ctrl) -
Help please...
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $6 each and will sell 900 tickets. There is one $1,000 grand prize, three $500 second prizes, and fifteen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. Question Help: Written Example > Next Question %23 44 F1 19 23 14 F6 F7 F10 %23 24 &. 2 4. 8. 9. Q Y U A S D K Z V M option command .. •- JI B w/
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $8 each and will sell 800 tickets. There is one $2,000 grand prize, two $500 second prizes, and eleven $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
An insurance company sells a $12,000, five-year term life insurance policy to an individual for $640. Find the expected return for the company if the probability the individual will live for the next five years is 0.98. (Round your answer to the nearest cent.) (Don't Hand writing in solution) .
Now you play toss-a-coin. If the coin comes up Heads, you win. If it comes up Tails, your friend wins.What is the probability that you win 4 games out of 10 now? This is a numerical question - give the answer in percent, and round to four digits after the decimal point
An insurance company sells a $20,000, seven-year term life insurance policy to an individual for $1,700. Find the expected return for the company if the probability the individual will live for the next seven years is 0.92. (Round your answer to the nearest cent.)$
An insurance company sells a $11,500, five-year term life insurance policy to an individual for $860. Find the expected return for the company if the probability the individual will live for the next five years is 0.96. (Round your answer to the nearest cent.)
You purchase boxes of cereal until you obtain one with the collector's toy you want. If, on average, you get the toy you want in every 23rd cereal box, what is the probability of getting the toy you want in any given cereal box? Round the final answer to three decimal places.
An insurance company claims the probability of surviving a certain type of cancer is 35%. What are the odds of surviving? Express your answer in the form a:b.
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 $1,000 grand prize, three $400 second prizes, and eleven $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10 each and will sell 500 tickets. There is one $2,000 grand prize, three $400 second prizes, and fifteen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.

SEE MORE QUESTIONS

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS

The probability that Mary will win a game is 0.05, so the probability that she will not win is 0.95. If Mary wins, she will be given $140; if she loses, she must pay $9. If X = amount of money Mary wins (or loses), what is the expected value of X? (Round your answer to the nearest cent.) $