Explanation Given: A game where a die is rolled with different payoffs for different outcomes Explanation: Consider the game given in the textbook. $6 are paid to play in the game where a die is rolled. Different payoffs are as follows: $8 for a 6, $7 for a 5, and $4 for any other result The sample space for rolling a die is S = { 1 , 2, 3, 4, 5, 6 } So, the number of elements in the sample space is n ( S ) = 6 . Here, the random variable represents the possible amounts of payback, where payback equals the amount won minus the cost to play the game. The payback for getting a 6 is $ 8 − $ 6 = $ 2 The payback for getting a 5 is $ 7 − $ 6 = $ 1 . The payback for getting any other number (from 1 to 4) is $ 4 − $ 6 = − $ 2 . The probability distribution for given experiment is as follows: x $ 2 $ 1 − $ 2 p ( x ) 1 6 1 6 4 6 Use the formula for the expected value of a random variable: E ( x ) = x 1 p 1 + x 2

Finite Mathematics, Books a la Carte Plus MyLab Math Access Card Package (11th Edition)

11th Edition

ISBN: 9780133886818

Author: Margaret L. Lial, Raymond N. Greenwell, Nathan P. Ritchey

Publisher: PEARSON

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Chapter 8, Problem 45RE

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The expected winnings in the given game where a die is rolled and determine whether it is a fair game or not.

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Chapter 8, Problem 44RE

Chapter 8, Problem 46RE

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5) You are purchasing a game for $30. You have a 5% off coupon and sales tax is 5%. What will your final price be? Does it matter if you take off the coupon first or add in the tax first? 6) You have ten coupons that allow you to take 10% off the sales price of a jacket, and for some strange reason, the store is going to allow you to use all ten coupons! Does this mean you get the jacket for free? Let's really think about what would happen at the checkout. First, the teller would scan the price tag on the jacket, and the computer would show the price is $100. After the teller scans the first coupon, the computer will take 10% off of $100, and show the price is $90. (Right? Think about why this is.) Then after the teller scans the second coupon, the computer will take 10% off of $90. (a) Continue this reasoning to fill in the table below showing the price of the jacket (y) after you apply x coupons. (b) Make a graph showing the price of the jacket from x = 0 to x = 10 coupons applied.…

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Finite Mathematics, Books a la Carte Plus MyLab Math Access Card Package (11th Edition)

Ch. 8.1 - In Exercises 112, evaluate the factorial or...Ch. 8.1 - Prob. 2E Ch. 8.1 - Prob. 3E Ch. 8.1 - In Exercises 112, evaluate the factorial or...Ch. 8.1 - In Exercises 112, evaluate the factorial or...Ch. 8.1 - In Exercises 112, evaluate the factorial or...Ch. 8.1 - Prob. 7E Ch. 8.1 - Prob. 8E Ch. 8.1 - Prob. 9E Ch. 8.1 - In Exercises 1-12, evaluate the factorial or...

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The expected winnings in the given game where a die is rolled and determine whether it is a fair game or not.

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