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1 1. How much the organizer will earn if 100 games will be played? A. P50,000.00 C. P150,000.00 B. P100, 000.00 D. P250,000.00 For numbers 12 -15, refer to the following: A life insurance company will sell a 1 million three-year term life insurance policy exclusive in a particular risk group for a premium of P2,000.00. Let X denote the net gain to the company from the sale of one policy. 12. If a person in this risk group has a 99.95% chance of surviving within three years, what is the probability that he will NOT survive within three years? A. 0.995 C. 0.005 B. 0.9995 D. 0.0005 13. How much is the net loss of the insurance company from a policyholder if his family will avail of the insurance benefits? A. P1,000,000.00 C. P998,000.00 B. P999, 000.00 D. P995,000.00 14. Which of the following tables of values shows the probability distribution of X, if each policyholder has a 99.95% chance of surviving within three years? A. X 2,000 -1,000,000 C. X 2000 -998,000 P(X) 0.9995 0.0005 P(X 0.9995 0.0005 B. D X 1,000,000 2,000 X 2000 -998,000 P(x) 0.9995 0.0005 P(X) 0.9995 0.0005 15. Find the expected value to the company of a single policy? A. P1,500.00 C. P1,800.00 B. P1, 690.00 D. P1,950.00.1. Which of the following represents the expected value of the discrete random variable? A. mean C. mode B. median D. variance For numbers 2-3, refer to the table below: 4 X P(x) MINW 10 10 2. What is the expected value of the given probability distribution? A. C. UIN B. 12 D. 12 10 3. What of the following best described the expected value of a probability distribution? A. It measures the variability of the values assumed by the random variables. B. It gives the difference between the highest and lowest values assumed by the random variables C. It is the square root of the variance of the probability distribution. D. It is the average value of a random variable over numerous trials of an experiment. For numbers 4-6, refer to the following: One thousand tickets are sold for P50.00 each. One ticket will win P 10,000.00, two tickets will win P5,000.00 each and three tickets will win P1,000.00 each. Let X denote the net gain from the purchase of a randomly selected ticket. 4. What is the probability that you will win a prize if you buy two tickets? A. 2 C. 2 1000 2 998 B. D. 500 1000 1155. Which of the following tables of values shows the probability distribution of X? A X 10,000 5,000 1,000 -50 P(x) 1 994 1000 1000 1000 1000 B X 10,000 5,000 1,000 -50 P(x) 3 999 998 997 999 C. X 9,950 4,950 950 -50 P(x) 994 1000 1000 1000 1000 D. X 9.950 4,950 1,000 -50 P(X) 99 998 997 999 6. What is the mean or the expected value of a person who buys a ticket? A. - 25 C. 27 B. - 27 D. 25 For numbers 7-8, refer to the following: You buy three P1,000.00 raffle tickets for a prize of a new 20-passenger Sarao jeepney valued at P800, 000.00. Two thousand tickets are sold. 7. What is the probability of winning the prize in the purchase of three tickets? A. 2000 C. 2000 B. 2 D. 4 2000 2000 8. What is the probability that you will NOT win the prize? (refer to item 7) 3 A. C. 997 2000 2000 97 1997 B. D. 2000 2000 For numbers 9-11, refer to the following: A roulette wheel in an amusement park has the numbers 1 through 60. If you bet P 100.00 for a randomly chosen number from 1 to 60, you will have a chance to win a cellular phone worth P5,000.00. 9. If X denotes the net gain from taking a chance to bet on a randomly selected number. Which of the following tables of values shows the probability distribution of X? A. X 5000 -1000 X 60 -1 P(X) 59 P(X) 59 60 60 60 60 B. X 4900 -1000 D. X 100 -1 59 P(x) 59 P(x) 60 60 60 60 10. What is the mean or the expected value for those who take a bet? A. - 10.12 C. -16.67 B. -15.40 D. -18.25