expected value

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: Answer the following statements.  3. Cite examples of an experiments or activities wherein we can…

A: “Since you have asked multiple question, we will solve the first question for you. If youwant any…

Q: The probabilities of a machine manufacturing 0, 1, 2, 3, 4, or 5 defective parts in one day are…

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Q: Suppose you roll a die with probability of 1 being 2/14, 2 being 1/14, 3 being 4/14, 4 being 3/14, 5…

A: Note: Hey, since there are multiple questions posted, we will answer first question. If you want any…

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: 2. Using the tables in part 1, find the following probabilities: i. What is the probability that the…

A: Having GPA                                                     Not…

Q: 5. You pay $10 to play the following game of chance. There is a bag containing 12 balls, five are…

A: Given below clear explanation

Q: spinner below has been with 8 equal regions. When the spinner is spun once, find the probability of…

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Q: game is played using a 52 card standard deck. The player pays $4.00 to play and gets to pick one…

A: A standard deck of cards has four suites: hearts, clubs, spades, diamonds. Each suite has thirteen…

Q: A bag contains 1 gold marbles, 10 silver marbles, and 22 black marbles. Someone offers to play this…

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Q: A game uses a. Single 6- sided die. To play the game, the die is tolled one time, with the following…

A: Solution

Q: the black-number bet   (a) Find the expected value of each $1 bet in roulette. (Round your answer to…

A: A roulette wheel consists of 38 slots, out of which 18 are black, 18 are red and 2 are green. The…

Q: Please use the Standard Normal Table (link on the first page of the quiz) to find the following…

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

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Q: We draw one card from a standard deck of 52 playing cards. a) What is the probability that we drew a…

A: We have to find given probability..

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

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Q: Determine the expected value of the following two games: (a) The Six Dollars Per Six game costs…

A: Probability Distribution: Let X be a random variable. Then the probability distribution of X is…

Q: Answer the Following Question Bella wants to try a dice game with a $1 entry fee. She rolls one…

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Q: Using your Binomial Probability Tables, what is the probability of 4 successes out of 7 trials, if…

A: According to the given information, we have Probability of success for each trial is the same at…

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

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Q: In chi-square analysis, categories are combined if  a. Expected frequencies are less than b.…

A: In chi-square analysis, Expected frequency= Value * Expected Frequency

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: A) If 5 cards are dealt from a standard deck of 52 cards, what is the probability that 3 will be…

A: We know that There are 52 card in the deck in which they divided into two color i.e red(26) and…

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: Bill and Larry toss two coins. If both coins come up heads, Bill pays Larry $2. Larry pays Bill $1…

A: As given above Bill and Larry toss two coins. If both coins come up heads. The possible outcomes…

Q: A bag contains 1 gold marbles, 10 silver marbles, and 26 black marbles. Someone offers to play this…

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Q: A. Suppose you roll a die with probability of 1 being 1/15, 2 being 2/15, 3 being 4/15, 4 being…

A: A. It is given that, a die is rolled with probability of 1 being 1/15, 2 being 2/15, 3 being 4/15, 4…

Q: Consider the following scenario. the twelve-number bet (a) Find the expected value of each $1 bet…

A: In roulette, there are 3 columns having 12 numbers each and a 0 and a 00 block. In total, there are…

Q: A balanced die is rolled until the same result appears twice. If this takes place in less than 6…

A: The theory of probability has its origin in the seventeenth century. The king of France,…

Q: What is the expected value of your net winnings?

A: Here, three balls are drawn from the box without replacement which contains total 10 balls from…

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

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Q: A bag contains 1 gold marbles, 6 silver marbles, and 24 black marbles. Someone offers to play this…

A: We have to find expected value: Concept:

Q: In a game involving the roll of a single die, the following rules have been agreed upon: I pay P1…

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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: What is the expected value of the following game? If a player rolls two dice and gets a sum of 2 or…

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

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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: Brandon is setting up his own carnival game. His plan is to make sure that the game has a negative…

A: The profit for a customer is obtained as : invested amount - return amount   The dartboard is broken…

Q: Please use the Standard Normal Table (link on the first page of the quiz) to find the following…

A: Answers are  1.  0.3372 2. 0.8944 3. 0.0166

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: Answer the Following Question Eva flips a coin. If she gets heads, she wins $4. if she gets tails,…

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Q: One option in a roulette game is to bet $1 on red. (There are 18 red compartments, 18 black…

A: No. of red compartment = 18 = n(R) No. of black compartment = 18 = n(B) No. of other compartment = 2…

Q: If E: The sum of the dice is even and O: The sum of the dice is odd, what is Pr(E v O)?

A: When we rolled two dice then the sample space  S={ (1,1) (1,2) (1,3) (1,4) (1,5) (1,6)  (2,1) (2,2)…

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

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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: What do we mean when we say that two random variables are independent? (Briefly. You may use an…

A: Two random variables are independent if the product of marginal probability functions of them…

Q: Consider the following table: Value of X Probability -3 0.2 -1 d 2 0.4 3 0.2 1. What is the value of…

A: Given: The probability distribution is as follows X P (X = x) -3 0.2 -1 d 2 0.4 3 0.2

Q: A local community center is holding a raffle for its members.  There is one grand prize of $500,…

A: A) For a person: x (net profit) 495 95 20 -5 p (probability) 1/200 4/200 15/200 180/200 So,…

Q: A bag contains 1 gold marbles, 9 silver marbles, and 24 black marbles. Someone offers to play this…

A: There are 1 gold marbles, 9 silver marbles, and 24 black marbles. The total number of marbles is…

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.