Stephen plays a game with a biased coin with P(Heads) = 0.69 and P(Tails) = 0.31. He plays each game by tossing the coin once. If he tosses a head, he pays $4. If he tosses a tail, he wins $12. Complete the probability distribution table. Give all answers accurate to at least 2 decimal places. Probability Distribution Table P(x) 12 What is your long-term expected profit per game? What is the standard deviation?

Stephen plays a game with a biased coin with P(Heads) = 0.69 and P(Tails) = 0.31. He plays each game by tossing the coin once. If he tosses a head, he pays $4. If he tosses a tail, he wins $12. Complete the probability distribution table. Give all answers accurate to at least 2 decimal places. Probability Distribution Table P(x) 12 What is your long-term expected profit per game? What is the standard deviation?

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter8: Sequences, Series,and Probability

Section8.7: Probability

Problem 50E: Flexible Work Hours In a recent survey, people were asked whether they would prefer to work flexible...

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