Question: answer this using MATHEMATICAL EXPECTATION /EXPECTED VALUE, tysm please answer this ASAP 1. A card game in a carnival has the following rules of winning:

answer this using MATHEMATICAL EXPECTATION /EXPECTED VALUE, tysm please answer this ASAP

answer this using MATHEMATICAL EXPECTATION /EXPECTED VALUE, tysm please answer this ASAP

1. A card game in a carnival has the following rules of winning: You will win 300 if you draw a jack or a queen: You will win 400 if you draw a king; You will win 500 if you draw an ace from an ordinary deck of 52 playing cards; If you draw any other card, you lose. How much should you pay to play if the game is fair? What expected value should you assume in order to solve this problem? Why? 2. Let X be a random variable with the following probability distribution: X -3 -6 f(x) 1/6 1/2 1/3 Find Me(x), Where g(X) = (2X + 1)3. 3. Suppose Let X and Y be random variables with joint density function f (x. y) = [+xy, 0

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!