5.1 Probability DistributionsI want you to help me solve this question. it's a 2 part step to the question of answering the 2 questions, the question of help me solve this shows a step by step on how to do it all 2 part, I'm going to attach a photo of the question right below it. I also have a view an example to help on solving the question I will attach it below as well.

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2:02AM Tue May 21 & mylab.pearson.com | yuie_Math 119-5 P Pearsol [ ] @DoHomeworkHo.\" Math 119-571 Spring 2024 aby leonard 05/20/245:02PM (2) Question 8, 5.1.28 5 HW Score: 77.71%, 6.22 of 8 points R QO Points: 0 of 1 = Homework: Homework 5.1 When playing roulette at a casino, a gambler is trying to decide whether to bet $5 on the number 10 or to bet $5 that the outcome is any one of the five possibilities 00, 0, 1, 2, or 3. The B % 5 QueStlon IISt I gambler knows that the expected value of the $5 bet for a single number is - 26. For the $5 bet that the outcome is 00, 0, 1, 2, or 3, there is a probability of E of making a net profit of 33 i . $30 and a 38 probability of losing $5. @ Question 1 . ) a. Find the expected value for the $5 bet that the outcome is 00, 0, 1, 2, or 3. b. Which bet is better: a $5 bet on the number 10 or a $5 bet that the outcome is any one of the numbers 00, 0, 1, 2, or 3? Why? @ Question 2 a. The expected value is $| |. o Question 3 (Round to the nearest cent as needed.) %, Question 4 @ Question 5 @ Question 6 %, Question 7 O Question 8 Help me solve this View an example Get more help 2:02AM Tue May 21 & mylab.pearson.com 8 @ Do Homework - Ho... Math 119-571 Spring 2024 aby leonard 05/20/245:03PM (3) TR O R A YR e = Homework: Homework 5.1 Que' 8,5.1.28 s"e LGRS ] m ) i View an example | Al parts showing X five possibilities 00, 0, 1, 2, or 3. The 5 QueStlon lSt sbability of 38 of making a net profit of When playing roulette at a casino, a gambler is trying to decide whether to bet $1 on the number 7 or to bet $1 that the outcome is any one of the three possibilities 00, 0, or 1. The gambler knows that the expected value of the $1 bet for a single number is - 8. For the $1 bet that the outcome is o Question 1 3 35 00, 0, or 1, there is a probability of 3B of making a net profit of $5 and a 38 probability of losing $1. a. Find the expected value for the $1 bet that the outcome is 00, 0, or 1. o Qo b. Which bet is better: a $1 bet on the number 7 or a $1 bet that the outcome is any one of the numbers 00, 0, or 1? Why? b 0 Question 3 a. The expected value of a discrete random variable x is denoted by E, and it is the mean value of the outcomes, so E=p = Z[)o P(x)]. First identify the appropriate values of x for the $1 bet that the outcome is 00, 0, or 1. % Question 4 35 3 lxP(I=85+ 20+ (= $1)- oo Now calculate the expected value E, rounding to the nearest cent. @ CQuestion 5 $5+ 338 +(-$1)- %= -$0.53 @ Question 6 The expected value is - $0.53 or - 53. b. Consider what makes a bet better. %/ Question 7 The bet with the greater expected earnings is the better bet. Now compare the expected earnings. -$0.08> -$0.53 O Question 8 Use this information to help decide which bet is better. Help me solve this View an example Get more help ("Ciear all )