A person pays $2 to play a certain game by rolling a single die once. If a 1 or a 2 comes up, the person wins nothing. If, however, the player rolls a 3, 4, 5, or 6, he or she wins the difference between the number rolled and $2. Find the expectation for this game. Is the game fair?
Answer to relevant QuestionsA lottery offers one $1000 prize, one $500 prize, and five $100 prizes. One thousand tickets are sold at $3 each. Find the expectation if a person buys one ticket. The formula for finding the variance for a probability distribution is σ2 = ∑(X- μ)2. P(X) Verify algebraically that this formula gives the same result as the shortcut formula shown in this section. A study conducted by a TV station showed the number of televisions per household and the corresponding probabilities for each. Find the mean, variance, and standard deviation. If you were taking a survey on the programs that ...Compute the probability of X successes, using Table B in Appendix C. a. n = 2, p = 0.30, X = 1 b. n = 4, p = 0.60, X = 3 c. n = 5, p = 0.10, X = 0 d. n = 10, p = 0.40, X = 4 e. n = 12, p = 0.90, X = 2 f. n = 15, p = ...Use the multinomial formula and find the probabilities for each. a. n = 6, X1 = 3, X2 = 2, X3 = 1, p1 = 0.5, p2 = 0.3, p3 = 0.2 b. n = 5, X1 = 1, X2 = 2, X3 = 2, p1= 0.3, p2 = 0.6, p3 = 0.1 c. n = 4, X1 = 1, X2 = 1, X3 = ...
Post your question