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...

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...

Find the expected value of buying a scratch-off lottery ticket.

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

Imagine you are doing research for a term paper in your English class and you have chosen the topic to be “The Benefits and Costs of My State's Lottery”. You find the following information for your...

A coin is tossed until we get the pattern HTH. Assume that H appears with probability p. What is the expected number of flips required? [Hint: Condition on the number of flips required to...

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, and...

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 the...

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....

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

Expected Value

A manufacturer is considering the development of a new and improved mousetrap. She estimates the probability that the new mousetrap being successful at market is 75%. Success would result in profits...

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...

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...

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...

1. You are arranging 7 books in a row on a shelf. One of the books is a dictionary and must go in the middle. How many ways can the books be arranged? 2. You...

1. What is the expected value for the random variable described by the probability distribution below? x 2 4 7 8 P(x) .3 .25 .15 .3 2. Using...

I need to find the expected population

An electronics store sells extended warranties. For a particular product they estimate 8% of those who buy the $14 warranty will use it, costing the store $110 to replace and ship the product. What...

How do I calculate the expected value of E(X3 - X)? Is it equal to E(X3) - E(X)? I know the values of E(X3) and E(X) individually. Thanks in advance!

This is a math question about probability density function. I would really appreciate help for this question. Let X be a continuous random variable which follows the following probability density...

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