Tom and John play the following game: Tom picks a card from a standard deck of cards. If he selected a club, John gives him $ 12. If not, then Tom gives John $4. Find Tom’s expectation. Round your answer to two decimal places (to the nearest cent)

Tom and John play the following game: Tom picks a card from a standard deck of cards. If he selected a club, John gives him $ 12. If not, then Tom gives John $4. Find Tom’s expectation. Round your answer to two decimal places (to the nearest cent)

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

Related questions

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Expected value- The expected value is predicted future value of an event taking place in the…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: According to the provided information, the number of tickets they will sell is 900 and the cost for…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: From the provided information, the total number of tickets they will sell = 700. So,

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Expected value: The expected value of a random variable is the sum of the possible values that the…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given data: The cost of a ticket is C=$7. The total numbers of the ticket are n=900. The amount of…

Q: You are playing a card game. If you pull an Ace you win $86, if you pull the King of hearts you win…

Q: Suppose you pay $3.00 to roll a fair die with the understanding that you will get back $5 for…

A: Suppose we pay $3.00 to roll a fair die with the understanding that you will get back $5 for rolling…

Q: A company receives 1.5% commission on the sale price of each house sold. For each house he sells,…

A: To Find How much money is James earn?

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given information- We have given that the student council is hosting a drawing to raise money for…

Q: The probability density function of a random variable X is given by 0<x<1 f (x) = {2-x l<x<2…

A: I have shown all the steps Area below lower bond is 0.125 using Chebyshev's theorem

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

Q: In a card game, there are 15 cards laid out on a table. 6 of the cards are blank, 2 of the cards are…

A: Here, we use the expected value and probabilty for the purpose of knowing the variables probability…

Q: Pretend that you buy a $200 dollar stock. A. If the price goes up 10% on Monday, up 5% on Tuesday,…

Q: Allie plays on the varsity basketball team and makes 79% of her free throws. If she takes 12 shots,…

A: Given : p = 0.79 q = 1 - p = 1 - 0.79 = 0.21 n = 12 we have find P(x = 8) here, x follow a binomial…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

Q: In a gambling game, a woman is paid $9 if she draws a nine or an ace and $12 if she draws a four or…

A: The question is about game theory Given : If woman draw any other card then she loses

Q: Julia sets up a passcode on her tablet, which allows only eight-digit codes. A spy sneaksa look at…

A: According to the provided data, the passcode allows only eight digit codes. As the fingerprints on…

Q: The tickets in the lottery sell for $1.00 each. How much money does the state expect to make it…

A: The tickets sell for $1.00 each. The total ticket sold is 1000000.

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: We have to find expected value.

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given: $10 each and sell 800 tickets one $1000 ground prize four $ 200-second prize fifteen $20…

Q: .a TC .bO 2π .cO || 2.

A: I will use the definition of gamma function.

Q: Suppose that you and a friend are playing cards and decide to make a bet. If you draw two face…

Q: A $100.00 check that is cashed at a rate of $7.00, at what rate did you cash it?

A: Given that: Fee paid to cash a $100 = $7

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

Q: Use a calculator and evaluate A to the nearest cent. A=$6,000 0.05 for t= 3, 5, and 10 If t= 3, A…

Q: Paula and Jill are playing a game. Paula will roll a die and Jill will guess the number that comes…

Q: Find the probability of this event. Enter each answer as a fraction in simplest form, as a decimal,…

A: To find the probability

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given information- We have given that the student council is hosting a drawing to raise money for…

Q: An urn contains 3 red and 7 blue balls. Pick a ball; keep it; pick another ball. Find the…

A: Given: Total number of balls=10 Number of red balls=3 Number of blue balls=7

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given: The student council is hosting a drawing to raise money for scholarships. Cost of one ticket…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: We can create a table for the given data, Price (X) no. Of tickets (f) 2000 1 400 2 20 11…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: The cost of a single ticket is $6. Total tickets are 700.There are 1 prize with $1,000, 3 prizes…

Q: You just bought one ticket. Find the expected value for your profit

A: here given, The student council is hosting a drawing to raise money for scholarships. They are…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: There are 700 tickets, where price of each ticket is $6.

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Expected value: The expected value of a random variable is the sum of the possible values that the…

Q: In the game "Rolling for Rubles", you win $1 for rolling a 1, $2 for a 2 and so on till $6 for…

A: It is given that, We are rolling a Rubbles. The probability of getting the each number is 1/6 The…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: Given selling tickets for $9 each and will sell 500 tickets. one $2,000 grand prize three $200…

Question

Tom and John play the following game: Tom picks a card from a standard deck of cards. If he selected a club, John gives him $ 12. If not, then Tom gives John $4.
Find Tom’s expectation.
Round your answer to two decimal places (to the nearest cent)

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

See pictures for questions a, b and c. Write your answers as fractions. (I sent this before but it was answer wrong) Thank you for the help. Problem A coin is tossed three times. An outcome is represented by a string of the sort HTT (meaning heads on the first toss, followed by two tails). The 8 outcomes are listed below. Assume that each outcome has the same probability. Complete the following. Write your answers as fractions.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $5 each and will sell 500 tickets. There is one $3,000 grand prize, three $400 second prizes, and fifteen $20 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 $6 each and will sell 500 tickets. There is one $1,000 grand prize, four $400 second prizes, and eighteen $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.$
Suppose that you and a friend are playing cards and decide to make a bet. If your friend draws two red cards in succession from a standard deck of 52 cards without replacing the first card, you give him $50. Otherwise, he pays you $20. If the same bet was made 15 times, how much would you expect to win or lose? Round your answer to the nearest cent, if necessary. Answer O Win ⒸLose Keypad Keyboard Shortcuts
1 30% of $40 is $
%3D 75 Jind A -6 3. makin A= -33
You are playing a card game. If you pull an Ace you win $71, if you pull the King of hearts you win $101, if you pull a jack or a queen you win $37, all other pulls you lose. What price should you be charged to make this a fair game? Round your answer to the nearest hundredth.
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. $
Suppose that you and a friend are playing cards and decide to make a bet. If you draw two clubs in succession from a standard deck of 52 cards without replacing the first card, you win $⁢40. Otherwise, you pay your friend $⁢10. If the same bet was made 25 times, how much would you expect to win or lose? Round your answer to the nearest cent, if necessary. Win: Lose:
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 seventeen $30 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 $8 each and will sell 500 tickets. There is one $3,000 grand prize, three $300 second prizes, and sixteen $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent. $4
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $5 each and will sell 600 tickets. There is one $3,000 grand prize, four $400 second prizes, and eighteen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.