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Let 'x' be the random variable and it said to follows the probability distribution function with…

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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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You are on a TV show. You have been asked to either play a dice game four times or accept a $50 bill. Thedice game works like this:If you roll a 1, 2, you lose $30. If you roll a 3, 4 or 5, you win $100. If you roll a 6, you lose $50.Should you play the game? Answer yes or no.__________ Use expected values and decision theory to justify your answer. Please round the answer to two decimal places.Expected value of four games is $__________.
A roulette wheel has 38 numbers: 18 are black, 18 are red, and 2 are green. Suppose you bet $1 on red. If you win, you win $2; otherwise, you win nothing. Find your expected value for this bet. Round all dollar values to two decimal places. Event Value Probability Value × Probability $ $ $ $ $ $ Expected Value = $ ____________ per bet
Solve the problem that involves computing expected values in a game of chance. A game is played using one die. If the die is rolled and shows a 3, the player wins $7. If the die shows any number other than 3, the player wins nothing. If there is a charge of $1 to play the game, what is the game's expected value? Round to the nearest cent. O A. $0.17 O B. $6.00 OC. -$0.17 OD. -%241.00 Next O vi 10:39 acer esc %23 $4 6. 7 8. 9. S 4 U e
Hector plays a game with a friend. They have a bag which contains 13 red stones and 3 black stones. They pay $1 and pull out a stone. If the stone is black, Hector wins $6. If the stone is red, Hector wins nothing.. What is the expected value of the game?
A card game goes like this: You draw a card from a 52-card deck. If it is a face card (jack, queen or king), you win $5; otherwise, you lose $2. What is your expected value for this game? (Round your answer to the nearest cent.)$
You are on a TV show. You have been asked to either play a dice game five times or accept a $120 bill. The dice game works like this: If you roll a 1 or 5, you win $50. If you roll a 4, you win $150. If you roll a 2, 3 or 6, you lose $30. Should you play the game? Answer yes or no. __________ Use expected values and decision theory to justify your answer. Please round the answer to two decimal places. Expected value of five games is $__________
A bag contains 5 gold marbles, 7 silver marbles, and 23 black marbles. The rules of the game are as follows: You randomly select one marble from the bag. If it is gold, you win $4, if it is silver, you win $3. If it costs $1 to play, what is your expected profit or loss if you play this game? $ Submit Question
There are 12 slips of paper in a hat. I will let you reach in and grab one, without looking. An amount of money is written on each piece of paper. One has $100, two have $50, three have $20, and the rest have $–20. If your paper has a positive amount, I will give you that amount in cash. If you get $–20, you must pay me $20. Calculate the expected value of playing the game.
Find the expected value: You draw a card from a 52 card deck. If you get a black card, you win nothing. If you get a heart, you win $3. For any diamond you win, $7 plus an extra $10 for the ace of diamonds. What is the expected amount you will win?
The candy wheel at the boardwalk gives away an $ 8 box of candy to a person who successfully guesses the correct location from the 32 possible spaces. If the wheel cost $2 to play , what is the expected value of the candy wheel at the boardwalk? Describe what the answer is telling you about the boardwalk game.
$21 to play a game where you reach into a bag and select a marble. There are 22 blue marbles, 10 red marbles, and 1 green marble. If you pull out a blue marble, you win nothing, if you pull out a red marble. you win S You рay 26, and if you pull out the green marble, you win $90. What is the expected net value of the game? Round the final answer to the nearest penny. Number dollars
You buy a lottery ticket to a lottery that costs $10 per ticket. There are only 100 tickets available to be sold in this lottery. In this lottery, there are one $500 prize, two $100 prizes, and four $25 prizes. Find your expected gain or loss. The expected loss is:

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You draw and keep a single bill from a hat that contains a $1, $10, $20, and $50 bill. What is the expected value of the game to you? dollars. The expected value of the game to you is dollars. (Type an integer or a decimal.)