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A probability distribution for various prize values is given by the following table. Prizes Probabilities $0.00 0.91 $100.00 0.09 $500.00 0.07 $10,000.00 0.01 Find the
A probability distribution for various prize values is given by the following table.
| Prizes | Probabilities |
|---|---|
| $0.00 | 0.91 |
| $100.00 | 0.09 |
| $500.00 | 0.07 |
| $10,000.00 | 0.01 |
Find the expected value of the prizes. Round your answer to two decimal places. $
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College Algebra DeMYSTiFieD
Authors: Rhonda Huettenmueller
2nd Edition
0071815856, 9780071815857
