Suppose you toss a coin and will win $7 if it comes up heads on the first try. If it comes up tails, you toss again. This time you will receive $14 if it comes up heads. If it comes up tails, toss again. This time you will receive $28 if it is heads and nothing if it comes up tails A.) What is the expectation for this game? Round your answer to the nearest cent B.) If the game costs $8 to play, what is the expectation of this game? Round your answer to the nearest cent. Should you play? Why?
Suppose you toss a coin and will win $7 if it comes up heads on the first try. If it comes up tails, you toss again. This time you will receive $14 if it comes up heads. If it comes up tails, toss again. This time you will receive $28 if it is heads and nothing if it comes up tails A.) What is the expectation for this game? Round your answer to the nearest cent B.) If the game costs $8 to play, what is the expectation of this game? Round your answer to the nearest cent. Should you play? Why?
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.4: Expected Value
Problem 15E: A Game of Chance A box contains 100 envelopes. Ten envelopes contain $10 each, ten contain $5 each,...
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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.
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Suppose you toss a coin and will win $7 if it comes up heads on the first try. If it comes up tails, you toss again. This time you will receive $14 if it comes up heads. If it comes up tails, toss again. This time you will receive $28 if it is heads and nothing if it comes up tails
A.) What is the expectation for this game? Round your answer to the nearest cent
B.) If the game costs $8 to play, what is the expectation of this game? Round your answer to the nearest cent. Should you play? Why?
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