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A probability distribution for various prize values is given by the following table. Prizes Probabilities $0 0.83 $100 0.13 $500 0.03 $10,000 0.01 Find the
A probability distribution for various prize values is given by the following table.
| Prizes | Probabilities |
|---|---|
| $0 | 0.83 |
| $100 | 0.13 |
| $500 | 0.03 |
| $10,000 | 0.01 |
Find the expected value of a prize. Round your answer to two decimal places.
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Algebra A Combined Approach
Authors: Elayn Martin Gay
5th Edition
032197817X, 9780321978172
