The expected value of R4 is
Q: Consider the following table: Value of X Probability 0 1/16 1 1/4 2 e 3 1/4 4 1/16…
A: According to the given information, for part (1) it is required to calculate the value of e. Since,…
Q: Calculate the probability P[X < 1]. (2 Calculate Ex, the expected value of X
A: We know that Distribution Function: = function of X = real value variable = the…
Q: A small organization is renting an outdoor arena for $1,000 and hosting a concert if it is it sunny…
A: Given outdoor arena for $1,000 expect to earn $6,000 Find if it rains the company will lose the $100…
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: otherwise If the expected value of the random variable X is 1/3. Find the values A and B.
A: Here use property of probability distribution function
Q: Taking into consideration that expected value of any term life insurance product yields a positive…
A: If the insurance product yields a positive value for insurance company and yields a negative…
Q: Consider the following table: Value of X Probability -4 0.15 -2 d 1 0.3 2 0.3 1. What is the value…
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Q: a. What is the probability that the dealer will sell less than 3 refrigerators next week? b. Find…
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Q: need answer for expected value
A: It is an important part of statistics. It is widely used.
Q: . What is the expected gain of the
A:
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: The expected value is $
A: From given data : 60% chance of making $9,000 20% chance of breaking even 20% chance of losing…
Q: In a product liability case, a company can settle out of court for a loss of $350,000, or go to…
A: Given Data: Loss if company settle out of court=350000 Loss if company takes case to the court and…
Q: How can you find the expectation value of a discrete random variable X?
A: The expected value of discrete random variable is X is the summation of the product of the values of…
Q: An insurance policy sells for $600. Based on past data, an average of 1 in 50 policyholders will…
A:
Q: The expected value when you purchase a lottery ticket is −$1.00 and the cost of the ticket is…
A: The expected value when you purchase a lottery ticket is −$1.00 and the cost of the ticket is…
Q: what is the expected number is successes
A: Solution: Given information: Let X represent the number of US female citizens. p= 0.51…
Q: According to the tables used by insurance companies, a 39-year old woman has a 0.163% chance of…
A:
Q: At a raffle, 250 tickets are sold for $4 each for one grand prize of $500 and two prizes of $50…
A: It can be assumed one ticket corresponds to one prize. Since, there are 250 ticket proabability of…
Q: If the probability of failure is 0.60 and the number of binomial trials is 90, what is t expected…
A:
Q: The expected value of the variable M is the population average of the variable M. True or false
A: Solution: Unbiased estimator: An estimator T is said to be unbiased if its mathematical expectation…
Q: On any given day, a salesman can earn $0 with a 20% probability, $100 with a 40% probability, or…
A: Solution: Let X be the earning of salesman. The earning of sales person are 0 , 100 and 300 with…
Q: what
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Q: Answer the following True or False: If the profit on a raffle ticket has an expected value of -5…
A: In general, the loss is obtained by adding the ticket cost and $5.
Q: A survey found that in a small town 60% of households had 0 pets, 25% of households had 1 pet,…
A: The probability distribution table for number of pets in a household is,
Q: Which is the expectation for a binomial distribution?
A: Given,A random variable X~Binomial(n,p)P(X=x)=Cxn pxqn-x ; x=0,1,2,....nand p+q=1
Q: Why is the expected value 50.50? When you've said it should be 100/2 in the explanation?
A: GivenA fair 100 sided dice is rolled where each outcome has equal probability =1100The expected…
Q: The table below gives the prizes and probabilities for winning on a $5 lotto scratcher. Find the…
A: Expected value = 2.016
Q: A bag has three times as many green marbles as there are blue. If you take 8 marbles from this bag,…
A: In question, Given that a bag has three times as many green marbles as there are blue marbles, 8…
Q: How can you find the conditional distribution?
A: Conditional distribution:The conditional probability is defined as the probability distribution for…
Q: Your school is selling raffle tickets as a fundraiser. They sell tickets for $5 each, there are 10…
A:
Q: Do you think this is a good idea? Find the expected value of hosting the tournament.
A: Here Given Club Expense=$12,000 Revenue from ticket=$18,000 Probability of rain=0.2
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: An insurance policy sells for $1,000. Based on your past data, an average of 1 in 50 policyholders…
A: The expected value for the company per policy sold can be calculated using the following…
Q: because the expected value of the game (without considering the cost) is $ arest cent as needed.)
A:
Q: The Walker Construction Company has just received a building contract. Walker estimates there is a…
A: Let us assume X= amount of profit Breakeven means no profit. Let us make a probability distribution…
Q: 1. Which investment give a higher expected profit? 2. If the businessman is willing to take a risk,…
A: here for investment A mean = 7200 variance = 14760000 for investment B mean = 7500 variance =…
Q: Suppose you pay $5 to roll a fair dice. If the top face shows an odd number, you win $0 but if it…
A: Cost of rolling a fair dice=5 Amount you win if odd number shows=0 Amount you win if even number…
Q: You play a game in which 30% of the time you will WIN $5 and 70% of the time you will LOSE $3. What…
A: It is given that, there is 30% chance to win $5 and 70% chance to lose $3.
Q: (a) Over the long term, what is your expected profit of playing the game?
A: Here given , Two dice are rolled in game And there are total outcomes possible on each die are 6 And…
Q: Find the expected value of the probability model.
A: Expected value of probability model E(x)=∑xiPxi
Q: # 3. One Thousand tickets are sold at $1 each for a color television valued @ $350. What is the…
A: Given that, 1000 tickets are sold at $1 each for color television valued $350. If you win, then the…
Q: mat is your expected value if you play this game?
A: HERE WILL USE PROBABILITY TABLE FOR EXPECTATION.
Q: The table above shows the number of cell phones per household in a small town. Find the expected…
A: From the provided information, Cell phones (x) 0 1 2 3 4 5 6 Probability P(x)…
Q: C) If you knew {q,» ..., q,} in advance, how should you choose {p,} to maximize the probability you…
A: Given that the attacker is going to attack site i with probability qi and selecting a site to…
Q: Calculate the expected value of x, the sum of the scores, when two dice are rolled.
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Q: Jet Blue is considering adding a route to the city of Minneapolis, MN. After considerable research,…
A: Note: Hi there! Thank you for posting the question. As there are several independent questions,…
Q: In a proposed business venture, a businesswoman estimates there is a 60% chance she will make…
A: Given: There are 60% chances that she will make $52000 and 40% chances that she will lose $53000. To…
Q: An investor is considering a $30,000 investment in a start-up company. She estimates that she has a…
A: Given information- Let X denotes the profit. We have given that an investor is considering a $30,000…
Q: At age 50, Ann must choose between taking $18,000 at age 60 if she is alive then, or $32,000 at age…
A: Given The probability of a person aged 50 living to be 60 is 0.81The probability of a person aged 50…
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