a.

To determine: the expected value of the game.

The expected value of the game is 4.5

Given information:

The square root of the expected value of squared deviations from the mean, σ=∑i=1n(xi−μ)2⋅Pxi

Concept Used:

The mean of a discrete probability distribution, where x is each value of random variables and Px is the probability, μ=∑x⋅Px

Calculation:

Calculate the mean using the formula for the mean of probability distribution.

μ=0⋅0.8+10⋅0.15+50⋅0.08+0.01⋅100=4.5

b.

To determine: the standard deviation of the value of the prizes

The standard deviation of the value of the prizes is 13.96.

Given information:

The square root of the expected value of squared deviations from the mean, σ=∑i=1n(xi−μ)2⋅Pxi

Calculation:

The expected value of the game is 4.5.

Substitute all the values in σ=∑i=1n(xi−μ)2⋅Pxi .

σ=0−4.52⋅0.80+10−4.52⋅0.15+50−4.52⋅0.04+100−4.52⋅0.01=194.75≈13.96

c.

To explain: why the standard deviation is so large.

The standard deviation is large since the data points are spread out over a large range of values.

Given information:

The square root of the expected value of squared deviations from the mean, σ=∑i=1n(xi−μ)2⋅Pxi

Calculation:

The expected value of the game is 4.5.

The standard deviation of the value of the prizes is 13.96. Notice that the standard deviation σ=$13.96 is high from the mean μ=$4.50 , this only means that the data points are spread out over a large range.

d.

To explain: why are willing to pay $5 to play this game.

No, since the expected value is lower there is no high chance to win money in the long run.

Given information:

The square root of the expected value of squared deviations from the mean, σ=∑i=1n(xi−μ)2⋅Pxi

Calculation:

The expected value of the game is 4.5.

The standard deviation of the value of the prizes is 13.96. Whereas, the fee is $5 which is higher than the expected value.

Since the expected value is lower there is no high chance to win money in the long run.

Chapter 10.4, Problem 52E

Chapter 10.4, Problem 54E

Chapter 10 Solutions

PRECALCULUS:GRAPHICAL,...-NASTA ED.

Ch. 10.1 - Prob. 1QR Ch. 10.1 - Prob. 2QR Ch. 10.1 - Prob. 3QR Ch. 10.1 - Prob. 4QR Ch. 10.1 - Prob. 5QR Ch. 10.1 - Prob. 6QR Ch. 10.1 - Prob. 7QR Ch. 10.1 - Prob. 8QR Ch. 10.1 - Prob. 9QR Ch. 10.1 - Prob. 10QR

Ch. 10.1 - Prob. 1E Ch. 10.1 - Prob. 2E Ch. 10.1 - Prob. 3E Ch. 10.1 - Prob. 4E Ch. 10.1 - Prob. 5E Ch. 10.1 - Prob. 6E Ch. 10.1 - Prob. 7E Ch. 10.1 - Prob. 8E Ch. 10.1 - Prob. 9E Ch. 10.1 - Prob. 10E Ch. 10.1 - Prob. 11E Ch. 10.1 - Prob. 12E Ch. 10.1 - Prob. 13E Ch. 10.1 - Prob. 14E Ch. 10.1 - Prob. 15E Ch. 10.1 - Prob. 16E Ch. 10.1 - Prob. 17E Ch. 10.1 - Prob. 18E Ch. 10.1 - Prob. 19E Ch. 10.1 - Prob. 20E Ch. 10.1 - Prob. 21E Ch. 10.1 - Prob. 22E Ch. 10.1 - Prob. 23E Ch. 10.1 - Prob. 24E Ch. 10.1 - Prob. 25E Ch. 10.1 - Prob. 26E Ch. 10.1 - Prob. 27E Ch. 10.1 - Prob. 28E Ch. 10.1 - Prob. 29E Ch. 10.1 - Prob. 30E Ch. 10.1 - Prob. 31E Ch. 10.1 - Prob. 32E Ch. 10.1 - Prob. 33E Ch. 10.1 - Prob. 34E Ch. 10.1 - Prob. 35E Ch. 10.1 - Prob. 36E Ch. 10.1 - Prob. 37E Ch. 10.1 - Prob. 38E Ch. 10.1 - Prob. 39E Ch. 10.1 - Prob. 40E Ch. 10.1 - Prob. 41E Ch. 10.1 - Prob. 42E Ch. 10.1 - Prob. 43E Ch. 10.1 - Prob. 44E Ch. 10.1 - Prob. 45E Ch. 10.1 - Prob. 46E Ch. 10.1 - Prob. 47E Ch. 10.1 - Prob. 48E Ch. 10.1 - Prob. 49E Ch. 10.1 - Prob. 50E Ch. 10.1 - Prob. 51E Ch. 10.1 - Prob. 52E Ch. 10.1 - Prob. 53E Ch. 10.1 - Prob. 54E Ch. 10.1 - Prob. 55E Ch. 10.1 - Prob. 56E Ch. 10.1 - Prob. 57E Ch. 10.1 - Prob. 58E Ch. 10.1 - Prob. 59E Ch. 10.1 - Prob. 60E Ch. 10.1 - Prob. 61E Ch. 10.1 - Prob. 62E Ch. 10.2 - Prob. 1QR Ch. 10.2 - Prob. 2QR Ch. 10.2 - Prob. 3QR Ch. 10.2 - Prob. 4QR Ch. 10.2 - Prob. 5QR Ch. 10.2 - Prob. 6QR Ch. 10.2 - Prob. 7QR Ch. 10.2 - Prob. 8QR Ch. 10.2 - Prob. 9QR Ch. 10.2 - Prob. 10QR Ch. 10.2 - Prob. 1E Ch. 10.2 - Prob. 2E Ch. 10.2 - Prob. 3E Ch. 10.2 - Prob. 4E Ch. 10.2 - Prob. 5E Ch. 10.2 - Prob. 6E Ch. 10.2 - Prob. 7E Ch. 10.2 - Prob. 8E Ch. 10.2 - Prob. 9E Ch. 10.2 - Prob. 10E Ch. 10.2 - Prob. 11E Ch. 10.2 - Prob. 12E Ch. 10.2 - Prob. 13E Ch. 10.2 - Prob. 14E Ch. 10.2 - Prob. 15E Ch. 10.2 - Prob. 16E Ch. 10.2 - Prob. 17E Ch. 10.2 - Prob. 18E Ch. 10.2 - Prob. 19E Ch. 10.2 - Prob. 20E Ch. 10.2 - Prob. 21E Ch. 10.2 - Prob. 22E Ch. 10.2 - Prob. 23E Ch. 10.2 - Prob. 24E Ch. 10.2 - Prob. 25E Ch. 10.2 - Prob. 26E Ch. 10.2 - Prob. 27E Ch. 10.2 - Prob. 28E Ch. 10.2 - Prob. 29E Ch. 10.2 - Prob. 30E Ch. 10.2 - Prob. 31E Ch. 10.2 - Prob. 32E Ch. 10.2 - Prob. 33E Ch. 10.2 - Prob. 34E Ch. 10.2 - Prob. 35E Ch. 10.2 - Prob. 36E Ch. 10.2 - Prob. 37E Ch. 10.2 - Prob. 38E Ch. 10.2 - Prob. 39E Ch. 10.2 - Prob. 40E Ch. 10.2 - Prob. 41E Ch. 10.2 - Prob. 42E Ch. 10.2 - Prob. 43E Ch. 10.2 - Prob. 44E Ch. 10.2 - Prob. 45E Ch. 10.2 - Prob. 46E Ch. 10.2 - Prob. 47E Ch. 10.2 - Prob. 48E Ch. 10.3 - Prob. 1QR Ch. 10.3 - Prob. 2QR Ch. 10.3 - Prob. 3QR Ch. 10.3 - Prob. 4QR Ch. 10.3 - Prob. 5QR Ch. 10.3 - Prob. 6QR Ch. 10.3 - Prob. 7QR Ch. 10.3 - Prob. 8QR Ch. 10.3 - Prob. 9QR Ch. 10.3 - Prob. 10QR Ch. 10.3 - Prob. 1E Ch. 10.3 - Prob. 2E Ch. 10.3 - Prob. 3E Ch. 10.3 - Prob. 4E Ch. 10.3 - Prob. 5E Ch. 10.3 - Prob. 6E Ch. 10.3 - Prob. 7E Ch. 10.3 - Prob. 8E Ch. 10.3 - Prob. 9E Ch. 10.3 - Prob. 10E Ch. 10.3 - Prob. 11E Ch. 10.3 - Prob. 12E Ch. 10.3 - Prob. 13E Ch. 10.3 - Prob. 14E Ch. 10.3 - Prob. 15E Ch. 10.3 - Prob. 16E Ch. 10.3 - Prob. 17E Ch. 10.3 - Prob. 18E Ch. 10.3 - Prob. 19E Ch. 10.3 - Prob. 20E Ch. 10.3 - Prob. 21E Ch. 10.3 - Prob. 22E Ch. 10.3 - Prob. 23E Ch. 10.3 - Prob. 24E Ch. 10.3 - Prob. 25E Ch. 10.3 - Prob. 26E Ch. 10.3 - Prob. 27E Ch. 10.3 - Prob. 28E Ch. 10.3 - Prob. 29E Ch. 10.3 - Prob. 30E Ch. 10.3 - Prob. 31E Ch. 10.3 - Prob. 32E Ch. 10.3 - Prob. 33E Ch. 10.3 - Prob. 34E Ch. 10.3 - Prob. 35E Ch. 10.3 - Prob. 36E Ch. 10.3 - Prob. 37E Ch. 10.3 - Prob. 38E Ch. 10.3 - Prob. 39E Ch. 10.3 - Prob. 40E Ch. 10.3 - Prob. 41E Ch. 10.3 - Prob. 42E Ch. 10.3 - Prob. 43E Ch. 10.3 - Prob. 44E Ch. 10.3 - Prob. 45E Ch. 10.3 - Prob. 46E Ch. 10.3 - Prob. 47E Ch. 10.3 - Prob. 48E Ch. 10.3 - Prob. 49E Ch. 10.3 - Prob. 50E Ch. 10.3 - Prob. 51E Ch. 10.3 - Prob. 52E Ch. 10.3 - Prob. 53E Ch. 10.3 - Prob. 54E Ch. 10.3 - Prob. 55E Ch. 10.3 - Prob. 56E Ch. 10.3 - Prob. 57E Ch. 10.3 - Prob. 58E Ch. 10.3 - Prob. 59E Ch. 10.3 - Prob. 60E Ch. 10.4 - Prob. 1QR Ch. 10.4 - Prob. 2QR Ch. 10.4 - Prob. 3QR Ch. 10.4 - Prob. 4QR Ch. 10.4 - Prob. 5QR Ch. 10.4 - Prob. 6QR Ch. 10.4 - Prob. 7QR Ch. 10.4 - Prob. 8QR Ch. 10.4 - Prob. 9QR Ch. 10.4 - Prob. 10QR Ch. 10.4 - Prob. 1E Ch. 10.4 - Prob. 2E Ch. 10.4 - Prob. 3E Ch. 10.4 - Prob. 4E Ch. 10.4 - Prob. 5E Ch. 10.4 - Prob. 6E Ch. 10.4 - Prob. 7E Ch. 10.4 - Prob. 8E Ch. 10.4 - Prob. 9E Ch. 10.4 - Prob. 10E Ch. 10.4 - Prob. 11E Ch. 10.4 - Prob. 12E Ch. 10.4 - Prob. 13E Ch. 10.4 - Prob. 14E Ch. 10.4 - Prob. 15E Ch. 10.4 - Prob. 16E Ch. 10.4 - Prob. 17E Ch. 10.4 - Prob. 18E Ch. 10.4 - Prob. 19E Ch. 10.4 - Prob. 20E Ch. 10.4 - Prob. 21E Ch. 10.4 - Prob. 22E Ch. 10.4 - Prob. 23E Ch. 10.4 - Prob. 24E Ch. 10.4 - Prob. 25E Ch. 10.4 - Prob. 26E Ch. 10.4 - Prob. 27E Ch. 10.4 - Prob. 28E Ch. 10.4 - Prob. 29E Ch. 10.4 - Prob. 30E Ch. 10.4 - Prob. 31E Ch. 10.4 - Prob. 32E Ch. 10.4 - Prob. 33E Ch. 10.4 - Prob. 34E Ch. 10.4 - Prob. 35E Ch. 10.4 - Prob. 36E Ch. 10.4 - Prob. 37E Ch. 10.4 - Prob. 38E Ch. 10.4 - Prob. 39E Ch. 10.4 - Prob. 40E Ch. 10.4 - Prob. 41E Ch. 10.4 - Prob. 42E Ch. 10.4 - Prob. 43E Ch. 10.4 - Prob. 44E Ch. 10.4 - Prob. 45E Ch. 10.4 - Prob. 46E Ch. 10.4 - Prob. 47E Ch. 10.4 - Prob. 48E Ch. 10.4 - Prob. 49E Ch. 10.4 - Prob. 50E Ch. 10.4 - Prob. 51E Ch. 10.4 - Prob. 52E Ch. 10.4 - Prob. 53E Ch. 10.4 - Prob. 54E Ch. 10.4 - Prob. 55E Ch. 10.4 - Prob. 56E Ch. 10.5 - Prob. 1QR Ch. 10.5 - Prob. 2QR Ch. 10.5 - Prob. 3QR Ch. 10.5 - Prob. 4QR Ch. 10.5 - Prob. 5QR Ch. 10.5 - Prob. 6QR Ch. 10.5 - Prob. 7QR Ch. 10.5 - Prob. 8QR Ch. 10.5 - Prob. 9QR Ch. 10.5 - Prob. 10QR Ch. 10.5 - Prob. 1E Ch. 10.5 - Prob. 2E Ch. 10.5 - Prob. 3E Ch. 10.5 - Prob. 4E Ch. 10.5 - Prob. 5E Ch. 10.5 - Prob. 6E Ch. 10.5 - Prob. 7E Ch. 10.5 - Prob. 8E Ch. 10.5 - Prob. 9E Ch. 10.5 - Prob. 10E Ch. 10.5 - Prob. 11E Ch. 10.5 - Prob. 12E Ch. 10.5 - Prob. 13E Ch. 10.5 - Prob. 14E Ch. 10.5 - Prob. 15E Ch. 10.5 - Prob. 16E Ch. 10.5 - Prob. 17E Ch. 10.5 - Prob. 18E Ch. 10.5 - Prob. 19E Ch. 10.5 - Prob. 20E Ch. 10.5 - Prob. 21E Ch. 10.5 - Prob. 22E Ch. 10.5 - Prob. 23E Ch. 10.5 - Prob. 24E Ch. 10.5 - Prob. 25E Ch. 10.5 - Prob. 26E Ch. 10.5 - Prob. 27E Ch. 10.5 - Prob. 28E Ch. 10.5 - Prob. 29E Ch. 10.5 - Prob. 30E Ch. 10.5 - Prob. 31E Ch. 10.5 - Prob. 32E Ch. 10.5 - Prob. 33E Ch. 10.5 - Prob. 34E Ch. 10.5 - Prob. 35E Ch. 10.5 - Prob. 36E Ch. 10.5 - Prob. 37E Ch. 10.5 - Prob. 38E Ch. 10.5 - Prob. 39E Ch. 10.5 - Prob. 40E Ch. 10.5 - Prob. 41E Ch. 10.5 - Prob. 42E Ch. 10.5 - Prob. 43E Ch. 10.5 - Prob. 44E Ch. 10.5 - Prob. 45E Ch. 10.5 - Prob. 46E Ch. 10.5 - Prob. 47E Ch. 10.5 - Prob. 48E Ch. 10.5 - Prob. 49E Ch. 10.5 - Prob. 50E Ch. 10.5 - Prob. 51E Ch. 10.5 - Prob. 52E Ch. 10.5 - Prob. 55E Ch. 10.5 - Prob. 56E Ch. 10.5 - Prob. 59E Ch. 10.5 - Prob. 60E Ch. 10 - Prob. 1RE Ch. 10 - Prob. 2RE Ch. 10 - Prob. 3RE Ch. 10 - Prob. 4RE Ch. 10 - Prob. 5RE Ch. 10 - Prob. 6RE Ch. 10 - Prob. 7RE Ch. 10 - Prob. 8RE Ch. 10 - Prob. 9RE Ch. 10 - Prob. 10RE Ch. 10 - Prob. 11RE Ch. 10 - Prob. 12RE Ch. 10 - Prob. 13RE Ch. 10 - Prob. 14RE Ch. 10 - Prob. 15RE Ch. 10 - Prob. 16RE Ch. 10 - Prob. 17RE Ch. 10 - Prob. 18RE Ch. 10 - Prob. 19RE Ch. 10 - Prob. 20RE Ch. 10 - Prob. 21RE Ch. 10 - Prob. 22RE Ch. 10 - Prob. 23RE Ch. 10 - Prob. 24RE Ch. 10 - Prob. 25RE Ch. 10 - Prob. 26RE Ch. 10 - Prob. 27RE Ch. 10 - Prob. 28RE Ch. 10 - Prob. 29RE Ch. 10 - Prob. 30RE Ch. 10 - Prob. 31RE Ch. 10 - Prob. 32RE Ch. 10 - Prob. 33RE Ch. 10 - Prob. 34RE Ch. 10 - Prob. 35RE Ch. 10 - Prob. 36RE Ch. 10 - Prob. 37RE Ch. 10 - Prob. 38RE Ch. 10 - Prob. 39RE Ch. 10 - Prob. 40RE Ch. 10 - Prob. 41RE Ch. 10 - Prob. 42RE Ch. 10 - Prob. 43RE Ch. 10 - Prob. 44RE Ch. 10 - Prob. 45RE Ch. 10 - Prob. 46RE Ch. 10 - Prob. 47RE Ch. 10 - Prob. 48RE Ch. 10 - Prob. 49RE Ch. 10 - Prob. 50RE Ch. 10 - Prob. 51RE Ch. 10 - Prob. 52RE Ch. 10 - Prob. 53RE Ch. 10 - Prob. 54RE Ch. 10 - Prob. 55RE Ch. 10 - Prob. 56RE Ch. 10 - Prob. 57RE Ch. 10 - Prob. 58RE Ch. 10 - Prob. 59RE Ch. 10 - Prob. 60RE Ch. 10 - Prob. 61RE Ch. 10 - Prob. 62RE Ch. 10 - Prob. 63RE Ch. 10 - Prob. 64RE Ch. 10 - Prob. 65RE Ch. 10 - 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