A person pays $2 to play a certain game by rolling a single die once. If a
Question:
A person pays $2 to play a certain game by rolling a single die once. If a 1 or a 2 comes up, the person wins nothing. If, however, the player rolls a 3, 4, 5, or 6, he or she wins the difference between the number rolled and $2. Find the expectation for this game. Is the game fair?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
X Win PX 1 0 1 6 2 0 1 6 3 1 1 6 4 2 ...View the full answer
Answered By
Benish Ahmad
I'm a professional software engineer. I'm lectutrer at GCUF and I have 3 years of teaching experience. I'm looking forward to getting mostly computer science work including:
Programming fundamentals
Object oriented programming
Data structures
object oriented design and analysis
Database system
Computer networks
Discrete mathematics
Web application
I am expert in different computer languages such as C++, java, JavaScript, Sql, CSS, Python and C#. I'm also have excellent knowledge of essay writing and research. I have worked in other Freelancing website such as Fiverr and Upwork. Now I have finally decided to join the SolutionInn platform to continue with my explicit work of helping dear clients and students to achieve their academic dreams. I deliver plagiarism free work and exceptional projects on time. I am capable of working under high pressure.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Statistics questions
-
A person plays a gambling game in which a six-sided die is rolled once. The person bets $5 on the numbers 1 and 2. the number 1 or 2 is rolled, the person will get the $5 he bet plus another $5. If...
-
The Long Island Life Insurance Company sells a term life insurance policy. If the policy holder dies during the term of the policy, the company pays $100,000. If the person does not die, the company...
-
A person tosses a fair coin until a tail appears for the first time. If the tail appears on the nth flip, the person wins 2n dollars. Let X denote the players winnings. Show that E[X] = +. This...
-
Briefly explain the DHCP lease process. What packets are sent and when are they sent? (5 marks) Question 2 any three advantages of IPv6 over IPv4? How many classes are there in IPv4 and what is the...
-
Under the ADA, what is a qualified individual with a disability? If Anna filed lawsuit, who would have the burden of proving that Anna was (or was not) a qualified employee with a disability? Is it...
-
Effect of inventory valuation on net income. Selby Corporation, a commercial real estate developer, acquired a tract of land on September. Year 6 for $240,000. Forest fires on December. Year 6,...
-
CALCULATING BUDGET ESTIMATES USING THE LEARNING CURVE Assume you have a software project that will require the coding services of a senior programmer to complete 14 coding sequences that are...
-
The 2012 comparative balance sheet and income statement of All Wired, Inc., follow: Additionally, All Wired purchased land of $24,500 by financing it 100% with longterm notes payable during 2012....
-
According to its original plan. Campbell Consulting Services Company plans to charge its customers for service at $125 per hour. The company president expects consulting services provided to...
-
Worldwide, over a billion solder balls must be manufactured daily for assembling electronics packages. The uniform droplet spray method uses a piezoelectric device to vibrate a shaft in a pot of...
-
A pizza shop owner determines the number of pizzas that are delivered each day. Find the mean, variance, and standard deviation for the distribution shown. If the manager stated that 45 pizzas were...
-
A lottery offers one $1000 prize, one $500 prize, and five $100 prizes. One thousand tickets are sold at $3 each. Find the expectation if a person buys one ticket.
-
During muscle contraction, (a) sodium ions are released by the muscle cells endoplasmic reticulum. (b) calcium ions allow myosin heads to bind to actin. (c) ATP causes the myosin heads to pivot,...
-
In addition to the strongest military in the world, the United States wields enormous soft power. Define soft power. What factors make the United States powerful when it comes to soft power?
-
Tampa by the Bay Cardiology practice is experiencing long wait times for new patient appointments. Next available appointment is 30 days. The administrator has asked the practice manager to construct...
-
In 2013, Idalia Hernndez Ramos, a middle school teacher in Mexico, was a victim of cyber harassment. After discovering that one of her students tweeted that the teacher was a "bitch" and a "whore,"...
-
Your life couldn't be any better. You just accepted a new role as a senior consultant for a project management services firm in San Francisco, and the move is finally happening. You've got a great...
-
What are the two "engines" that drive earth's processes, how do they work (basically) and what are their energy sources? How do the "engines" influence and interact with the Earth Systems? (provide a...
-
Which of the following is true about cash balance plans? I. Past service credit is available. II. Employer guarantees a minimum rate of return. III. Participants direct investments in hypothetical...
-
Read the case study Richter: Information Technology at Hungarys Largest Pharma and answer the following question: How does the organization ensure the accuracy of the data it stores?
-
This case presents, with additional information, the WorldCom saga included in this chapter. Questions specific to World- Com activities are located at the end of the case. WorldCom, Inc., the...
-
Why are random numbers used in sampling, and how are random numbers generated?
-
Time magazine reported that 83% of people with household earnings over $200,000 have a bachelors degree. Define a population that may have been used and explain how the sample might have been...
-
Time magazine reported that 25% of the worlds prisoners and prisons are in the United States. Define a population that may have been used and explain how the sample might have been selected.
-
Mass LLp developed software that helps farmers to plow their fiels in a mannyue sthat precvents erosion and maimizes the effoctiveness of irrigation. Suny dale paid a licesnsing fee of $23000 for a...
-
Average Rate of Return The following data are accumulated by Lone Peak Inc. in evaluating two competing capital investment proposals: 3D Printer Truck Amount of investment $40,000 $50,000 Useful life...
-
4. (10 points) Valuation using Income Approach An appraiser appraises a food court and lounge and provides the following assessment: o O The building consists of 2 floors with the following (6)...
Study smarter with the SolutionInn App