Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A student receives pocket money from his family as follows: Some amount (let's denote by x) is written on a yellow paper. Then, a coin

A student receives pocket money from his family as follows: Some amount (let's denote by x) is written on a yellow paper. Then, a coin with a probability of 0.3 to hit the head is tossed and the result is not told to the student. On a red paper, if the result comes to a head, 3x is written x / 4 (for example: 10 T on yellow paper; 30 on red paper; 2.5 on red paper; T is written). Both papers are brought in front of the student and asked to make a choice. After the student opens the paper he has chosen, he can accept the amount written or replace it with the other paper (he does not know the amount written on the other paper). the student aims to receive maximum pocket money. Accordingly,
a) In terms of expected earnings, which card is it reasonable to choose? Is it necessary for the student to replace the selected paper with another paper after seeing it?
b) the student is thinking of a strategy: the student determines a quantity in his head, denoted by y. He then opens the red paper. It accepts if the amount written is not less than y. If the amount on the red paper is greater than y, it deforms it with yellow paper. E [H (x, y)] =?

Step by Step Solution

3.59 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

Sals Yelow paper To88 Coin PCH03 Red Paper Red poper 3x u 3x PO 03 07 Expected value e 0 3 x ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

John E Freunds Mathematical Statistics With Applications

Authors: Irwin Miller, Marylees Miller

8th Edition

978-0321807090, 032180709X, 978-0134995373

More Books

Students also viewed these Accounting questions

Question

For any events A and B in a sample space, we have (A B) = AB.

Answered: 1 week ago

Question

Design a neural network that implements the XOR function.

Answered: 1 week ago