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Which of the following statements are true? Mark all that apply. If the Expected Value of a game is zero, we say that it is a 'fair game' The probability of an impossible event is −1-1. The probability of an event that is certain is 0. Expected Value is the actual gain or loss each time an event takes place. Expected Value is the average gain or loss of an event if the procedure is repeated many times. If the odds for an event are 3 to 5, then the odds against that event are 5 to 3. If P(A) is the probability that event A will occur, the probability event A will not occur is P(A¯)=1 - P(A).

Which of the following statements are true? Mark all that apply. If the Expected Value of a game is zero, we say that it is a 'fair game' The probability of an impossible event is −1-1. The probability of an event that is certain is 0. Expected Value is the actual gain or loss each time an event takes place. Expected Value is the average gain or loss of an event if the procedure is repeated many times. If the odds for an event are 3 to 5, then the odds against that event are 5 to 3. If P(A) is the probability that event A will occur, the probability event A will not occur is P(A¯)=1 - P(A).

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section: Chapter Questions
Problem 8CC: (a) An experiment has two outcomes, "success" and "failure„" where the probability of success" is p....
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Which of the following statements are true? Mark all that apply.

  • If the Expected Value of a game is zero, we say that it is a 'fair game'
  • The probability of an impossible event is −1-1.
  • The probability of an event that is certain is 0.
  • Expected Value is the actual gain or loss each time an event takes place.
  • Expected Value is the average gain or loss of an event if the procedure is repeated many times.
  • If the odds for an event are 3 to 5, then the odds against that event are 5 to 3.
  • If P(A) is the probability that event A will occur, the probability event A will not occur is P(A¯)=1 - P(A).
Which of the following statements are true? Mark all that apply. O If the Expected Value of a game is zero, we say that it is a 'fair game | The probability of an impossible event is – 1. The probability of an event that is certain is 0. Expected Value is the actual gain or loss each time an event takes place. O Expected Value is the average gain or loss of an event if the procedure is repeated many times. If the odds for an event are 3 to 5, then the odds against that event are 5 to 3. O If P(A) is the probability that event A will occur, the probability event A will not occur is Р(4) 3 1 — Р(A).
Transcribed Image Text:Which of the following statements are true? Mark all that apply. O If the Expected Value of a game is zero, we say that it is a 'fair game | The probability of an impossible event is – 1. The probability of an event that is certain is 0. Expected Value is the actual gain or loss each time an event takes place. O Expected Value is the average gain or loss of an event if the procedure is repeated many times. If the odds for an event are 3 to 5, then the odds against that event are 5 to 3. O If P(A) is the probability that event A will occur, the probability event A will not occur is Р(4) 3 1 — Р(A).
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