39 Answered Questions for the topic Expected value

08/19/21

Expected Value question: If E (Y) = 6, then E (6Y - 4) =

If E (Y) = 8, then E (6Y - 4) =

10/25/20

How to solve questions regarding drawing cards from a standard deck of 52?

Mark draws one card from a standard deck of 52. He receives $ 0.50 for a heart, $ 0.65 for a jack and $ 0.85 for the jack of hearts. How much should he pay for one draw?This is how i attempted to... more
Expected Value Probability

07/13/20

an individual purchase dozen of eggs. there is a 50% chance that all the eggs carried on any one trip will be broken during the trip. The individual consider two strategies:

strategy 1: take 12 eggs in one tripstrategy 2: take two trips with 6 eggs in each tripWhat is the expected value in each two cases?
Expected Value Math Statistics

05/21/20

expected value problem (statistics)

if a player rolls 2 dice and gets a sum of 2 or 12, he wins $20. if the person gets a 7, he wins $5. the cost to play is $1.a) Make a probability for this situationb) calculate the expected valuec)... more
Expected Value Finite Math

04/18/20

PLEASE HELP! Expected value finite math question

Stereo speakers are manufactured with a 0.25 probability of being defective. Five speakers are randomly selected. Let the random variable X be defined as the number of defective speakers.  Find the... more
Expected Value Probability Even Or Add

11/12/19

That wager pays even money, that is, if you win, you get whatever you bet, and if you lose that same amount. What is your expected value for this bet?

In roulette, you may bet whether the number that comes up is odd (or even). ( Remember that 0 does not count as either odd or even.) The wager pays even money, that is, if you win, you get whatever... more

02/28/19

I need help with this if anyone can help.

Suppose you bet $1 on red at the roulette wheel. There are 18 red numbers and 20 nonred numbers (including the green 0 and 00). You win $1 if a red number comes up, and you lose $1 if any other... more

02/20/19

what if a theoretical expected value is 0

Expected Value Algebra 1

01/28/19

Data management grade 12 math

Twenty disks are marked and placed in a bag. The markings are as follows: $2 is marked on 8 disks. $4 is marked on 6 disks. $6 is marked on 4 disks. $10 is marked on 2 disks. A game consists of... more
Expected Value Math Math Help

09/27/18

Expected Value question for math

You found a shortcut to school that saves 5 minutes off of taking the freeway. About 1 in every 10 trips you get stuck behind a bus and it ends up taking you 20 minutes longer than the freeway.... more
Expected Value

06/15/18

Question on expected value

I think my brain is officially fried lol. Any help is greatly appreciated.    A game at a fund-raiser carnival involves throwing a dart at a wall of balloons. If the balloon that is popped has... more

05/06/18

I have ten identical envelopes. You get to pick one.

2 envelopes have $50 in them, 4 envelopes have $10 and 4 envelopes have $1. What is the expected value
Expected Value

01/01/18

Find the expectation of a game

A gamble draws a card from an ordinary deck of cards. If it is a black card, she wins $2. If it is a red card between or including 3 and 7, she wins $10. If it is a red face card, she wins $25, and... more
Expected Value

11/14/17

a new lottery is made up of selecting four balls numbered 1-30 and a kicker ball numbered 1-10.

a new lottery is made up of selecting four balls numbered 1-30 and a kicker ball numbered 1-10. assuming there's only one way to win, what is the probability of winning the lottery
Expected Value

08/03/17

Expectation of a game?

A gambler draws a card from an ordinary deck of cards. If it is a black card, she wins $2. If it is a red card between or including 3 and 7, she wins $10. If it is a red face card, she wins $25,... more
Expected Value Observed Value

07/08/17

Test statistic - expected vs. observed

5. In the past few years, attention has been focused on hybrid learning versus traditional learning. Administrators in a large urban district take a random sample of 50 ninth graders and compare... more
Expected Value

05/19/17

An extended maintenance contract costs $55.

The probability that your device needs repairs 18% and the average cost of repairs for this device is $145 (parts and labor). What is the expected value for this contract? Show all math for this.... more
Expected Value

05/19/17

You are in charge of setting up policies for an insurance company that you work for. What would the EXPECTED VALUE be for your company if you collect $850 for s

payment of $2000 with probability of 10% payment of $5000 with probability of 4% payment of $10,000 with probability of 2% ?
Expected Value Expected Number

03/16/17

The Expected Value

A gambler, proposes the following game of chance. You roll a fair die. If you roll a 1, then you receive $40. If you roll a 2, you receive $20. If you roll a 3, you receive $15. If you roll a 4 or... more
Expected Value

12/29/16

What are the expected winnings

A contest at a fast-food restaurant offered the following cash prizes and probabilities of winning on one visit when a customer buys an order of French fries for $ 1.63 Find the expected winnings... more
Expected Value Probability

12/29/16

What are the expected​ winnings?

A raffle offers a first prize of $1000, 2 second prizes of $300, and 20 third prizes of $10 each. If 20000 tickets are sold at 75 cents each, find the expected winnings for a person buying 1 ticket.

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