1. Suppose 100,000 tickets are sold on a lottery. Three prizes are at stake; P25,000 for the first, P20,000 for the second, and P10,000 for the third prize. If you buy a lottery ticket, what is your mathematical expectation of winning? Is the ticket overpriced?

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A: Note:  Since, we only answer up to 3 sub-parts. we'll answer the first 3. Please resubmit the…

Q: Solve the following problems completely. 1. A roulette wheels contains 50 numbers: 30 are red and 20…

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A: This problem has been discussed so many times in the history of statistics and probability. And…

Q: Part 1 and 2

A: Note:We consider E(GPA|SAT=700) as E(GPA|SAT=600) in part 1).It is given that the conditional…

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A:

Q: a For a given value of k, what is the probability that Joe selects the best job? b What value of k…

A: Answer:

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A: Cost of Policy = P 100,000   In case of minor accident, Expected loss = 1,000,000 *P(minor fire) =…

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A: Given that, Your friend offers to place a bet with you. He will pay you $2 if your favorite sports…

Q: pls answer the attached questions

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A: If a die is thrown than the possible outcomes areS=1,2,3,4,5,6P(getting 1)=16P(getting…

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A: Given A person pays $2 to play a certain game by rolling a single die once. If a 1 or a 2 comes up,…

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A: Answer can be given using expected value formula.

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A: *Answer:

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A: Detailed explanation mentioned below

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Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.