The following dice game costs $10 to play. If you roll 1, 2, or 3, you loseyour money. If you roll 4 or 5, you get your money back. If you roll a 6, youwin $24.(a) Find the distribution of your winnings W.(b) Find the expected value of the game.

If you roll a 1, 2, or 3, you lose $10.If you roll a 4 or 5, you get your $10 back.If you roll a 6,…

Answered: The following dice game costs $10 to…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Instructions: Find the missing probability. P(B) = P(A/B) = 20P(A and B)
You are on a TV show. You have been asked to either play a dice game four times or accept a $50 bill. Thedice game works like this:If you roll a 1, 2, you lose $30. If you roll a 3, 4 or 5, you win $100. If you roll a 6, you lose $50.Should you play the game? Answer yes or no.__________ Use expected values and decision theory to justify your answer. Please round the answer to two decimal places.Expected value of four games is $__________.
Find the expected payback for a game in which you bet $6 on any number from 0 to 499. If your number comes up, you get $500. The expected payback is $ (Round to the nearest cent as needed.)
Example 8.3 There are 20, 30 and 50 heavy smokers, moderate smokers and non-smokers, respec- tively. Construct a frequency table and illustrate the three rules of probability.
Find the probability that the sum is as stated when a pair of dice is rolled. (Enter your answers as fractions.) (a) even and doubles(b) even or doubles
Dice: 8a) Determine the probability distribution for the following: Roll a 4-sided die, a 6-sided die, an 8-sided die, a 10-sided die, and a 12-sided die. The total is the sum of all of the dice. Y = d4 + d6 + d8 + d10 + d12 8b) What is the probability of the total being 30? 8c) What is the probability of the total being 30 or more?
The table gives a set of outcomes and their probabilities. Let A be the event "the outcome is greater than or equal to 2". Find P(A). Outcome Probability 1 0.3 2 0.3 3 0.4
You are on a TV show. You have been asked to either play a dice game five times or accept a $120 bill. The dice game works like this: If you roll a 1 or 5, you win $50. If you roll a 4, you win $150. If you roll a 2, 3 or 6, you lose $30. Should you play the game? Answer yes or no. __________ Use expected values and decision theory to justify your answer. Please round the answer to two decimal places. Expected value of five games is $__________
5
D The chances of winning are often written in terms of odds rather than probabilities. The odds of winning is the ratio of the number of successful outcomes to the number of unsuccessful outcomes. The odds of losing is the ratio of the number of unsuccessful outcomes to the number of successful outcomes. For example, if the number of successful outcomes is 2 and the number of 2 unsuccessful outcomes is 3, the odds of winning are 2:3 (read "2 to 3") or. A card is picked at random from a standard deck of 52 playing cards. Find the odds that it is a spade. new an example Ask my instructor ✓ The odds that it is a spade are (Simplify your answer) PBSC A&P 2 Lapptx A 3 E D F с $ 4 R F 2 V PBSC A&P 2 Lapptx %6 5 T G B 6 MacBook Air Y H 7 PBSC A&P 2 La...pptx N 17 U J 8 M FALL F I ( 9 K PBSC A&P 2 La...pptx ** O O L command P 1 - Clear all : ; t { option ? I 11 I Check answer Show All *** 1 delete retu
Activity #4: PROBABILITY Read and analyze the problems, show your solution, and box the answer. 1. What would be the probability of a. picking a black card at random from a standard deck of 52 cards? b. picking a face card (i.e. a king, queen, or jack)? c. not picking a face card? 2. What is the probability of rolling, on a fair dice: a. a 3? b. an even number? c. zero? d. a number greater than 4? e. a number lying between 0 and 72 f. a multiple of 3 given that an even number was drawn? 3. A standard deck of playing cards is well shuffled and from it, you are given two cards. You can have 0, 1, or 2 aces: three possibilities altogether. So, the probability that you have two aces is equal to 1/3. What is flawed about this argument? 4. You shuffle a deck of playing card, and then start turning the cards one at a time. The first one is black. The second one is also a black card. So is the third, and this happens up to the 10th card. You start thinking, "the next one will likely be red!"…
The probability model below describes the number of repair calls that an appliance repair shop may receive during an hour. Repair Calls 1 2 3 4 Probability .3 .3 .2 .1 Find the probability that 2 or more repair calls will be received in the next hour.

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The following dice game costs $10 to play. If you roll 1, 2, c your money. If you roll 4 or 5, you get your money back. If you win $24. (a) Find the distribution of your winnings W. (b) Find the expected value of the game.