You walk into the Rolling Thunder Casino, and are immediately faced with a table that offers the followinggame: A player pays $2 to play. The player can win $ 2, $4, or $5 with probabilities 0.28, 0.08, and 0.03,respectively. A random variable X is to represent the players profit on a single play of the game.The partial probability distribution of X is provided.(a) P(X= 2)wwww.....23P(X= z) ? 0.28 0.08 0.03(b) Sketch the distribution of probabilities from (a), with the values of X on the x-axis and P(X = z) on the y-axis.E(X)(Use two decimals in your answer.)What can you say about the tendency of the random variable X? The distribution of X isSD(X)(c) Compute the expected value of X and the standard deviation of X.(use two decimals in your answer)(use two decimals in your answer)

If the player starts with $2 then the player can win are given below: x Probabilities $2 0.28…

Answered: You walk into the Rolling Thunder…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A baker is deciding how many batches of muffins to make to sell in his bakery. He wants to make enough to sell every one and no fewer. Through observation, the baker has established a probability distribution. P(x) 1 0.15 2 0.35 3 0.40 4 0.10 Table 4.2 Define the random variable X.
Find the expected value for prospective winning.
R1
At a company, the employees were surveyed and classified according to their level of education and whether they smoked or not. The data are shown in the table. High school graduate College graduate Smoke 09 19 Do not Smoke 17 25 If an employee is selected at random, find the following probabilities. (Round your answers to three decimal places) a. Employee smokes and is a college graduate. b. Employee smokes or is a college graduate. c. Employee smokes, given that he or she graduated from college. d. Employee is a college graduate, given that he or she smokes.
Let A and B be mutually exclusive events, such that P(A) = = 0.9304 and P(B) = 0.0423 . Find the following probabilities: P(A and B)= % (Round the answer to 2 decimals) P(A or B)= % (Round the answer to 2 decimals)
Events A and B are independent. Find the missing probability. P(A) = (9/20) %3D 20 P(B) = ? 27 P(A and B) = (27/80) 80 O 7 10 O 53 80 O 11 25
Battle of the Cell Phones - Use the following table to answer the following questions. After analyzing sales data, the owner of a mobile phone store produced the following joint probability distribution of the number of Xenia phones (X) and Yella phones (Y) sold daily Xenia Phone Daily Sales Yella Phones Daily Sales 0.4 0.3 0.1 0.2 Solve for COV(X,Y): O 0.01 O 0.31 O 2 O 0.05
Events A and B are independent. Find the missing probability. P(A) = (1/2), P(A and B) = (5/6), P(B) = 3/5 1/2 1/4 4/5
You purchase a brand new car for $15,000 and insure it. The policy pays 78% of the car's value if there is an issue with the engine or 30% of the car's value if there is an issue with the speaker system. The probability of an issue with the engine is 0.009, and the probability there is an issue with the speaker system is 0.02. The premium for the policy is p. Let X be the insurance company's net gain from this policy. (a) Create a probability distribution for X, using p to represent the premium on the policy. Enter the possible values of X in ascending order from left to right. P(X) (b) Compute the minimum amount the insurance company will charge for this policy. Round your answer to the nearest cent
Payoffs in this lottery are given by the following: p(x) $100 .15 $60 .25 $20 .10 $10 .30 $40 .20 a) Find this lottery's expected value b) Find the probability that a person will win more than $20.
All events are mutually exclusive. Find the probability in question.
Oscar is playing a simple card game. The game is played by the player picking a card from a deck. If the player picks any face cards, they wins $20. If the player picks any other cards, they lose $10. Let X be the random variable representing the $ amount Oscar will win/ lose from this game. (a) Fill in the probability distribution of X. Leave the probability as a fraction. X P(X) Win $ Lose $ (b) Calculate the expected value of X. Round your answer to the nearest hundredth of a dollar. (for example if the answer is 43.5478, then round to 43.55). The expected value is $

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