Suppose you play a game with a spinner. You play each game by spinning the spinner once. P(red) = 2/5, P(blue) = 2/5, and P(green) = 1/5. If you land on red, you pay $10. If you land on blue, you don't pay or win anything. If you land on green, you win $10. Complete the following expected value table and state the expected value.

Q: There is a seller and a buyer of a used car. The seller knows the car is a plum or a lemon. The…

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Q: In the game of​ roulette, a player can place a ​$5 bet on the number 35  and have a 1/38 probability…

A: Given information- We have given that in the game of​ roulette, a player can place a ​$5 bet on the…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A:

Q: In auction bidding, the "winner's curse" is the phenomenon of the winning (or highest) bid price…

A: X1=24, n1=172 X2=36, n2=138 p1cap=X1/n1, p2cap=X2/n2

Q: I loaded my dice so that the chance of a 1 is 0.1, the chance of a 6 is 0.2, and the chances of the…

A: Given information: Chance of a 1 = 0.1 Chance of a 6 = 0.2 Chance of a 2 = Chance of a 3 = Chance of…

Q: The Safe Grad Committee at the high school is selling tickets on a Christmas Basket filled with…

A: Prize =1200 No: of tickets=500 Expected value of a ticket=1200/500=$2.4

Q: An entity has a contract to sell 200 bikes to a customer for $550 each and the customer has the…

A: Given: The provided data is: Number of bikes returned Probability of Outcome 0 0.25 1 0.10…

Q: I Question 48 Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck.…

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Q: In the game of roulette, a player can place a $4 bet on the number 9 and have a probability of…

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Q: Suppose that a lottery has the following odds: Amount won Probability of winning 0 3/5 2 1/5 5 1/10…

A: b)Here, Amount won, x Probability, P(x) x.P(x) 0 35 0 2 15 25 5 110 12 10 350 35 50…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Given, Probablity of surviving is 96.9%.  Premium charged by BIC is 8416 silver coins. Death benifit…

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: The manager of a video store has compiled the following table, which gives the probabilities that a…

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Q: A local bottling company has determined the number of machine breakdowns per month and their…

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Q: Suppose that in a particular game two dice are tossed. If the two dice sum to seven, the player wins…

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Q: The chart below lists the number of boats John expects to sell each week along with the…

A: 1. Let X be the number of boats expected to be sold each week. So, the data given in the question…

Q: Robert bought a $5 lottery ticket such that 1 in 100 would win $10, 1 in 1000 would win $100, and 1…

A: Given that, Robert bought a $5 lottery ticket such that 1 in 100 would win $10, 1 in 1000 would win…

Q: When you bet $5 on the number 7 in roulette at a typical casino, you have a 37/38 probability of…

A: We know that the expected value E(X) for a discrete variable X is given by  E(X)=∑ixiP(xi)  where X…

Q: It is known that a game of chance costs $1 to purchase a ticket, and pays out $120 if you win. The…

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Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Final answer is: 5446 silver coins

Q: An insurance company sells a policy for $800. There is a 1/20 chance that the insurance company will…

A: Random variables are of 2 types, discrete and continuous. A discrete random variable can only take…

Q: Find the expected value of the random variable with the following probability distribution: 3 6. .03…

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Q: You, the owner of a company, construct an incentive compensation program that compensates employees…

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Q: Suppose that a lottery has the following odds: Amount Won Probability of Winning 0 3/5 2 1/5 5 1/10…

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Q: A programmer is creating a game with a villain who randomly appears and steals 50 gold coins from…

A: The image is attached below to find the expected value of a player.

Q: In the game of roulette, a player can place a $5 bet on the number 9 and have a an probability of…

A: P(winning) = 1/38 Amount on winning = 175 P(loss) = 1-1/38 = 37/38 Amount on losing = -5

Q: In the game of​ roulette, a player can place a ​$10 bet on the number 1 and have a 1/38 probability…

A: We have to find expected value of game.

Q: It costs $2 to buy a raffle ticket. If there are 500 tickets sold, and there is one first prize of…

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Q: A) Which of the following experiments does NOT have equally likely outcomes? A- Choose a number at…

A: Equally likely outcome : Equally likely outcome means all the outcome should have equal probability.…

Q: In the game of roulette, a player can place a $4 bet on the number 32 and have a probability of…

A:

Q: An insurance policy sells for ​$1200. Based on past​ data, an average of 1 in 125 policyholders will…

A: Given that  An insurance policy sells for ​$1200. An average of 1 in 125 policyholders will file a…

Q: If BIC charge

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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: A church is holding a raffle and sells 500 tickets for $2 each. If the church awards one $100 first…

A: There is one $100 prize  So the probability of winning $100 is = 1/500    there are two $50 prize So…

Q: An insurance policy sells for $1000. Based on past data, an average of 1 in 100 policyholders will…

A: We will make a table using the given information Amount of claim 15000 30000 80000 Probability…

Q: An insurance policy sells for ​$1000. Based on past​ data, an average of 1 in 50 policyholders will…

A: an average of 1 in 50 policyholders will file a ​$10,000 ​claim, an average of 1 in 200…

Q: If a gambling game is played with expected value $0.40, then there is a 40% chance of winning. true…

A: Let X be a random variable .Such that it takes only two value 1,0 . If X = 1 he wins X = 0 he loose.…

Q: In the game of​ roulette, a player can place a ​$8 bet on the number 1 and have a 1/38 probability…

A: Let 'x' represent amount gained or lose by a player .Expected value of the player can gain or lose…

Q: 5-card hand is dealt from a standard 52 deck card. If the 5-card hand contains atleast one four, you…

A: To calculate the expected value of the game.

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

A: Total number in roulette wheel = 38 including (0 and 00) The five-number bet is a "row bet", that…

Q: Suppose you play a game with a spinner. You play each game by spinning the spinner once. P(red) = ,…

A:

Q: You draw and keep a single coin from a bowl that contains 12 pennies, 9 dimes, and 20 quarters. What…

A: The given information is that the bowl contains the12 pennies, 9 dimes, and 20 quarters.It is known…

Q: A church is holding a raffle and sells 500 tickets for $2 each. If the church awards one $100 first…

A: Note:Hey there! Thank you for posting the question. Your question says “what is the expected value…

Q: An insurance policy sells for $720. Based on past data, an average of 1 in 70 policyholders will…

A: an average of 1 in 70 policyholders will file a $10,000 claim, an average of 1 in 100 policyholders…

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: In the game of roulette, a player can place a $5 bet on the number 7 and have a 1/38 probability of…

A: E[x] = ∑xP(x) P(x) = 1/38 , x = 175  and....

Q: A player receives P250 if the results of tossing three coins are all heads or all tails. On the…

A: Sample space when three coins are tossed, S=HHH, HHT, HTH, THH, TTH, THT, HTT, TTT ns=8 P(Getting…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: Introduction: The premium of 7,591 silver coins charged by the insurance company is the amount that…

Q: Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest…

A: We make a table using the given information. Payment 0 49,518 Probability 95.5%=0.955…

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.