A bag contains 3 gold marbles, 8 silver marbles, and 22 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $4. If it is silver, you win $3. If it is black, you lose $1. What is your Expected Value if you play this game? $ Round your answer to the nearest cent.

Q: You draw and keep a single bill from a hat that contains a ​$1​, ​$5​, ​$10​, and ​$100 bill. What…

A: Expected value = Mean: The mean is the sum of observations divided by number of observations. that…

Q: A bag contains 2 gold marbles, 7 silver marbles, and 28 black marbles. Someone offers to play this…

A: Here expected value will be in losing way -6/37

Q: If you pay me $1. I will let you play the following gmabling game. You drop your pencil point into…

A: Different numbers possible in random digits table = 10(0, 1, 2, 3, 4, 5, 6, 7, 8, 9) Expected vaue…

Q: 4 -1 0

A:

Q: and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects a…

A: Given query is to find expected value of th game for Kyd and North.

Q: Carmen has a deck of 10 cards numbered 1 through 10. She is playing a game of chance. This game is…

A:

Q: A bag contains 2 gold marbles, 7 silver marbles, and 24 black marbles. Someone offers to play this…

A:

Q: Chauncey Billups, a current shooting guard for the Los Angeles Clippers, has a career free-throw…

A: GivenPercentage of carrer free throw (p)=0.894No.of throws(n)=6Let "x" be the no.of free throws that…

Q: What is your expected value if you play this game?

A:

Q: Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects…

A:

Q: A raffle offers a first prize of $1000, 2 second prizes of $300, and 20 third prizes of $10 each. If…

A: Given that first prize of $1000, 2 second prize of $300 and 20 third prizes of $10 each. There are…

Q: * 00 エ B 山 Question 29 A bag contains 3 gold marbles, 9 silver marbles, and 30 black marbles.…

A:

Q: A bag contains 1 gold marbles, 9 silver marbles, and 21 black marbles. Someone offers to play this…

A:

Q: In a bag, there are 8 red balls,  and 2 pink balls.  You pay 5 dollars to draw 2 balls.  If you draw…

A: In a bag, there are 8 red balls,  and 2 pink balls Total = 10 We also have to pay $5 to play the…

Q: Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects…

A:

Q: Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects…

A: a) From given data: X P(X=x) 4 3/13 -3 10/13   E(X)=4×313+-3×1013=-1.38   Therefore, Kyd's…

Q: Two coins are flipped. you win $2 if either 2 heads or 2 tails turn up; you lose $3 if a dead and a…

A: A) Let, H=head and T=tail When a coin is flipped then outcomes are {HH, HT,  TH, TT}. total 4…

Q: Deshaun has a deck of 10 cards numbered 1 through 10. He is playing a game of chance. This game is…

A: Given Favorable outcome =1 Total outcome=10 Loses $3.40

Q: Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects…

A: From the given information, Consider, A be the event that shows drawing a face card by Kyd  and B be…

Q: The cards shown below are placed in a hat and one card is randomly drawn. If a player draws a…

A: A hat contains 10 cards in which one diamond, three circles, 2 squares and 4 triangles. Also, it is…

Q: A bag contains 3 gold marbles, 10 silver marbles, and 23 black marbles. Someone offers to play this…

A: We are given: 3 gold marbles, 10 silver marbles, and 23 black marbles.       Total number of…

Q: In the game of roulette, a player bets $5 on a number and has a 1/38 chance of winning. If he wins,…

A:

Q: A game involves drawing a single card from a standard deck. One receives 60 cents for an ace, 30…

A:

Q: 7. Jerry paid $2 for a bet on a horse. If his horse wins the race, Jerry will win $100. Find the…

A: Odds of winning = 3 to 12 or 3/12 = 1/4 = 0.25cost of making a bet = $2so, In every 4 bets he make,…

Q: One option in a roulette game is to bet $13 on red.​ (There are 18 red compartments, 18 black…

A: The total number of red compartments = 18The total number of non red compartments  = 18=2 = 20The…

Q: A bag contains 1 gold marble, 9 silver marbles, and 29 black marbles. Suppose someone offers to play…

A: Using the given information we make a table Winning($) x 4 3 -1 Total outcome gold silver black…

Q: You decide you will rent a booth at the citywide yard sale.  If the weather nice and it doesn’t…

A: Using respective probability for each function  we can find the expected value for the day

Q: A bag contains 2 gold marbles, 6 silver marbles, and 30 black marbles. Someone offers to play this…

A:

Q: You draw a card from a deck. If you get a red​ card, you win nothing. If you get a​ spade, you win…

A: In a deck of cards, there are 26 reds, 13 spades, 1 ace of clubs, 12 other clubs. Given that  If you…

Q: A box contains 8 red and 3 yellow balls. Joe plays a game where he draws two balls at random. For…

A:

Q: If you charge $3 to play a game of chance and the expected value is - $2, then what is the fair…

A: According to the given information, it is required to find the fair price of the game.

Q: You draw and keep a single bill from a hat that contains a ​$1​, ​$10​, ​$20​, and ​$50…

A: Let X be the random variable . Expected value of X is denoted as E(X) and It is defined as follows…

Q: In the game of roulette, a player can place a $7 bet on the number 17 and have a an probability of…

A: We want expected value

Q: Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects…

A:

Q: Many states and Canadian provinces have government-sponsored lotteries. Here is a simple lottery…

A: The possible three digit numbers varies from 000 to 999 making a total of 1000 numbers.Consider X be…

Q: Name: 1. A game has 49 green balls and 1 red ball in a bag, and you will randomly select one ball…

A:

Q: A gambling game involves a spinner with the numbers 1 through 25. To play, the player guesses which…

A: We have to find expected value.

Q: A bag contains 3 gold marbles, 9 silver marbles, and 27 black marbles. Someone offers to play this…

A: Total marbles in a bag = 3 + 27 + 9 = 39 Where,             3 = gold marbles             9 = silver…

Q: n a coin and die game, you roll a fair six-sided die and toss a coin. If you roll a 6 and toss a…

A: P(getting a 6 in die) = 16 P(getting a tail in coin) = 12 P(getting a 6 in die and tail in coin) =…

Q: Hector plays a game with a friend. They have a bag which contains 13 red stones and 3 black stones.…

A: Expected value: The expected value of a random variable is the sum of the possible values that the…

Q: A certain game consists of rolling a single fair die. If a four or five comes up, you win 6 dollars;…

A: solve for

Q: A bag contains 1 gold marbles, 10 silver marbles, and 29 black marbles. Someone offers to play this…

A: E[x] = ∑xp(x)

Q: Christine has a deck of 10 cards numbered 1 through 10. She is playing a game of chance. This game…

A:

Q: A bag contains 3 gold marbles, 9 silver marbles, and 24 black marbles. Someone offers to play this…

A:

Q: You need to borrow money for gas, so you ask your mother and your sister. You can only borrow money…

A: We make a table for the sister's game.  x= amount of earning out come  Head Tail x (in dollars)…

Q: b) Suppose that you and a friend are playing cards and decide to make a bet. If your friend draws…

A: Probability of getting heart on the first draw=1352 Probability of getting heart on the second…

Q: A bag contains 2 gold marbles, 6 silver marbles, and 23 black marbles. Someone offers to play this…

A: Given Information: Gold marbles = 2 Silver marbles = 6 Black marbles = 23 Total marbles = 2 + 6 + 23…

Q: A bag contains 3 gold marbles, 7 silver marbles, and 27 black marbles. Someone offers to play this…

A:

Q: Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects…

A:

Q: Suppose a bookie will give you ​$6 for every ​$3 you risk if you pick the winners in three games of…

A: Given Probability of winning 3 games=0.125 Probability of loosing games=0.875

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.