Outcome Probability 6 winning spots 0.00012898 5 winning spots 0.00309564 4 winning spots 0.02853792 3 winning spots 0.12981955 Fewer than 3 winning spots 0.83841791 (a) Find the expected value of a $1 bet in six-spot keno if three winning spots pays $1 (but you pay $1 to play, so you actually break even), four winning spots pays $3 (but you pay $1 to play, so your profit is $2), five pays $110, and six pays $2,800. (Round your answer to two decimal places.) $   (b) Interpret the expected value. For a large number of plays, you should expect to lose about $   (enter a positive value) for every dollar you bet.

A game costs $12.00​ to play. In the game, there is a bag that contains 12​ balls; 6​ are red, 2​ are green, and 4​ are yellow. The player of the game draws one ball at random from the bag, and the player wins $9.00 if they draw a red ball, nothing if they draw a green ball, and $17.00 if they draw a yellow ball. What is the expected value of this game for the player? Round your answer to the nearest cent.

Tobacco is shipped from North Carolina to acigarette manufacturer in Cambodia once a year. The reorderpoint, without safety stock, is 200 kilos. The carrying cost is$15 per kilo per year, and the cost of a stockout is $70 per kiloper year. Given the following demand probabilities during thelead time, how much safety stock should be carried?

b. Find the expected number of children. c. Find the expected number of boys they'll have. 14. Carnival A carnival game offers a $100 cash prize for anyone who can break a balloon by throwing a dart at it. It costs $5 to play, and you're willing to spend up to $20 trying to win. You estimate that you have about a 10% chance of hitting the balloon on any throw. a. Create a probability model for this carnival game. b. Find the expected number of darts you'll throw. c. Find your expected winnings. 1 3 ( o Next Content