You're offered this bet. Flip a fair coin twice. If you get two heads, then you win $10; two tails, you win $1; otherwise you lose $5. A Let X represents your total winnings of a single bet. Create the probability model for X. B Find the expected value of winning (calculate by formula) Find the standard deviation of winning (use calculator options) C

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.3: Binomial Probability
Problem 26E
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You're offered this bet. Flip a fair
coin twice. If you get two heads, then you
win $10; two tails, you win $1; otherwise you
lose $5.
A Let X represents your total winnings of a
single bet. Create the probability model for X.
B Find the expected value of winning
(calculate by formula)
Find the standard deviation of winning
(use calculator options)
C
Transcribed Image Text:You're offered this bet. Flip a fair coin twice. If you get two heads, then you win $10; two tails, you win $1; otherwise you lose $5. A Let X represents your total winnings of a single bet. Create the probability model for X. B Find the expected value of winning (calculate by formula) Find the standard deviation of winning (use calculator options) C
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