Du are playing a game in which you flip 3 fair coins. It costs $5 to play the game, which must be subtracted from your winnings. Calculate the expected value for the ame. If all coins show the same (all heads or all tails), you win $7, otherwise, you lose your $5.

Q: Suppose the probability of a successful long hit is 0.4. Which approach, the short hit or the long…

A: According to the provided information, From the given information, Miguel thinks that if the long…

Q: What is the expected value? a. 2.79 O b. 1.97 O c. 2.97 o d. 1.79 How should the expected value be…

A:

Q: you flip a fair coin five times, and then you roll a pair of fair dice. If you get 4 or more heads…

A:

Q: Michael playsa game where he wins $5 if he draws an ace from a deck and loses $0.50 for all other…

A: There are 4 ace in a deck. Therefore, probability of draw an ace is=452=113. Probability of any…

Q: A construction company is planning to bid on a building contract. The bid costs the company​$1100.…

A:

Q: Provide an appropriate response with details. A 28 year old man pays $206 for a one year life…

A: From the given information, the probability of he will live through the year is 0.9992. And a 28…

Q: c) Now, suppose the mean payout for a single bet on this machine is known to be approximately…

A: Given information: μ=$1, σ=$0.50 c)  i)  Let X be distribution for mean payout for single mean bet…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $2.…

A: Given that, the cost of the raffle ticket is $2, an1 winning ticket was sold out of the 260 tickets…

Q: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

A: The student council is hosting a drawing to raise money for scholarships. They are selling tickets…

Q: In a gambling game there is a 15% chance that you will lose 10 dollars, 25% chance that you will…

A: Given Information: There is a 15% chance that you will lose 10 dollars, 25% chance that you will…

Q: A local flower shop is selling $1 raffle tickets and is donating all proceeds to the children's…

A: The total income generate from the raffle tickets sold is $5500 Gifts are : 20 flower =$70…

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

A: Solution: Compute the expected value for sister’s game:  Sister says to roll a six-sided die. She…

Q: A 30-year-old man pays $230 for a one-year life insurance policy with coverage of $100,000. If the…

A: From the provided information, A 30-year-old man pays $230 for a one-year life insurance policy with…

Q: You have 4 quarters and 2 dimes in your pocket. You draw two out at random. What is the expected…

A: If we pick 2 coins then 3 cases can happen

Q: What is the expected value of this game to you? Should you expect to win (or lose) an amount equal…

A: Here Given for the game of rolling two fair dice And  It is given that Odds against two Even Numbers…

Q: 5. In the "long run," what is the expected profit, or loss, per game if you pay $2 to play a game…

A: Given that, you pay $2 to play a game and receive $10 if you throw a "doubles" on a single throw of…

Q: You are given 7 to 5 odds against tossing three heads with three coins, meaning you win $7 if you…

A: The amount win when three head appears is $7. The amount loss when three heads didn't appear is $5.

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $5.…

A: For the given The PTO is selling raffle tickets to raise money for classroom supplies. A raffle…

Q: Is a 50/50 raffle a fair game? During a fundraiser a group sold 100 tickets for $20 each. From the…

A: Yes, it is a 50/50 raffle a fair game. During the fundraiser a group sold 100 tickets for $20 each.…

Q: alottery ticket costs you $5. 10,000 lottery tickets are sold with only one ticket can win $5,000.…

A: It was stated that a lottery ticket costs $5. 10,000 lottery tickets are sold with only one ticket…

Q: Solve and analyze the problem A 33-year-old mother pays P12,000 per annum for a P500,000 life…

A: Using the given information we make a table Expected earning (12000 - 500000)= - 488000 (12000 -0…

Q: Refer to the table to find the missing probability and then find the expected value. Outcome value,…

A:

Q: What is the expected value (to you) of one raffle ticket? $ Calculate the expected value (to you)…

A: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $3.…

Q: (b) What is the expected value of player's winnings? Round to the nearest hundreth. 0.26 x (c)…

A:

Q: Q6. What is the probability of getting the expected number of Heads from 20 tosses of a fair coin…

A: Here, X follows binomial with n= 20 and p= 0.5.   The expected number of heads is E(X) =np =20× 0.5…

Q: You are playing a game where you flip 3 coins, if you get all tails you lose $15, for er heads you…

A: Given: 3 coins are flipped If you get all tails you lose $15, for each heads you get $3.

Q: In a game, you have a 1/48 probability of winning $55 and a 47/48 probability of losing $9. What is…

A: From the provided information, The probability of winning of $55 = 1/48 The probability of losing of…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $3.…

A: Given information- Cost of a raffle ticket = $3 Total no. of tickets sold = 270 So, the probability…

Q: Choose a card from a standard deck of 52 playing cards. If you choose a 2 through 10, you will get…

A: Given information:  Total number of cards = 52 Winning amount on choosing a Jack, Queen or King =…

Q: petermine the expected value of the lottery Expected value Would you pay $1 for a ticket?

A: The grand prize is $30.5 million 1 million=1,000,000 30.5 million=30.5*1000000=30500000 That is,…

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

A: Here, total number of face card is 12 from the deck of cards and the remaining card is 40. If Kyd…

Q: Bill and Suzie are playing a game with two dice. If the sum is less than 5 or a 9 Bill gets 5…

A: Given information: If the sum is less than 5 or a 9 Bill gets 5 points. Otherwise, Suzie gets 3…

Q: Your school is selling raffle tickets as a fundraiser. They sell tickets for $5 each, there are 10…

A:

Q: A manufacturer is considering the manufacture of a new and better mousetrap. She estimates the…

A: Probability that the new mousetrap is successful is 3/4 Probability that the new mousetrap is not…

Q: Hector plays a game with a friend. They pay $2 and roll a 6-sided die. If the die comes up a 3 or…

A: Given Data: Profit (x) P(x) x P(x) -2 2/6 -4/6 5 4/6 20/6

Q: Select one option If one throws 2 dice of color red and green what would be the expected value of…

A:

Q: You play a game where you select one of three envelopes. You pay $2 to select once. One envelope has…

A: From the given information, Consider, X be the gain or winning amount. Pr( probability of selecting…

Q: State of Nature Decision S1 S2 S3 di 10 8 6 d2 14 15 d3 7 8 9 2.

A: Given: The provided payoff table is:   s1 s2 s3 d1 10 8 6 d2 14 15 2 d3 7 8 9 probability…

Q: A casino features a game in which a weighted coin is tossed several times.The table shows the…

A: According to the provided data, a weighted coin is tossed several times. The table below shows the…

Q: Consider the following game of chance. A card is drawn from a standard 52-card deck. A player must…

A: The total number of cards are 52. The cost to pay for the game is $6. The black card is drawn, the…

Q: One application of the "cover all the numbers" strategy would be to bet $1 on every single number in…

A: (a)  “cover all the numbers” strategy would be bet $1 on every single number in roulette. Approach:…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $4.…

A: Given, The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket…

Q: A radio station is having a contest. There is a vacation package worth $15,000. Three prizes are…

A: Vacation package worth $15,000 Coffee shop worth $1000 Tutoring math course worth $500 No of people…

Q: You pay $3.50 to play the following game: Each of two fair dice are numbered with 3 on one side, a 2…

A: On each die, only 3 numbers can appear and they are 1, 2, 3. Total Number of sides = 6. It is given…

Q: Amari's family is moving to California and would like to purchase fire insurance. The insurance…

A: Here  w  = net gain for insurance company per policy  Probability of fire happens 0.0008 And…

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $2.…

A: We know Expected Value is the average gain or loss if the event is occured many times Concept Used:-…

Q: Chandler offers you the opportunity to play his $2 game where he shuffles four cards and you must…

A: Expected profit E(X)= x.P(X=x)

Q: The candy wheel at the boardwalk gives away an $ 8 box of candy to a person who successfully guesses…

A: From the given information, the candy wheel at the boardwalk gives away an $8 box of candy to a…

Q: Carlie is betting on a game in which each bet has an expected value of -$0.56. This implies A.…

A: It is given that the expected value is -$0.56.

Q: The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs…

A: Probability of winning ticket is- P(winning ticket)=1150 Probability of losing ticket is- P(losing…

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.