Expected value = E(x) = x1P1+x2P2+ ... + xnPn Where x = the outcome and P = probability of outcome Dr. Kimball likes to go fishing with his son. To motivate his son, he pays him for the first fish that he catches. There are two types of edible fish that his son can catch: Trout and Salmon. If he catches a Trout he pays him $5, if he catches Salmon $3. There is a 20% chance that he will catch a trout and 50% that he will catch a Salmon.
Expected value = E(x) = x1P1+x2P2+ ... + xnPn Where x = the outcome and P = probability of outcome Dr. Kimball likes to go fishing with his son. To motivate his son, he pays him for the first fish that he catches. There are two types of edible fish that his son can catch: Trout and Salmon. If he catches a Trout he pays him $5, if he catches Salmon $3. There is a 20% chance that he will catch a trout and 50% that he will catch a Salmon.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter12: Probability
Section12.2: Introduction To Probability
Problem 79E
Question
Expected value = E(x) = x1P1+x2P2+ ... + xnPn
Where x = the outcome and P = probability of outcome
Dr. Kimball likes to go fishing with his son. To motivate his son, he pays him for the first fish that he catches. There are two types of edible fish that his son can catch: Trout and Salmon. If he catches a Trout he pays him $5, if he catches Salmon $3. There is a 20% chance that he will catch a trout and 50% that he will catch a Salmon.
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