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3. [-/1.25 Points] DETAILS UHSTAT4 8.E.027. MY NOTES PRACTICE ANOTHER The probability that Mary will win a game is 0.05, so the probability that she
3. [-/1.25 Points] DETAILS UHSTAT4 8.E.027. MY NOTES PRACTICE ANOTHER The probability that Mary will win a game is 0.05, so the probability that she will not win is 0.95. If Mary wins, she will be given $60; if she loses, she must pay $5. If X = amount of money Mary wins (or loses), what is the expected value of X? (Round your answer to the nearest cent.) 4. [-/1.25 Points] DETAILS UHSTAT4 8.E.037. MY NOTES PRACTICE ANOTHER An insurance company expects 8% of its policyholders to collect claims of $300 this year and the remaining 92% to collect no claims. What is the expected value, u, for the amount they will pay out in claims per person? H = $ per person (in the long run)
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