Question
Daniel is watching an old game show rerun on television called Lets Make a Deal in which the contestant chooses a prize behind one of
Daniel is watching an old game show rerun on television called Lets Make a Deal in which the contestant chooses a prize behind one of two curtains. Behind one of the curtains is a gag prize worth $220, and behind the other is a round-the-world trip worth $4,800. The producer of the game show has placed a subliminal message on the curtain containing the gag prize, which makes the probability of choosing the gag prize equal to 75 percent.
(a1)
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What is the expected value of the selection? (Round answer to 2 decimal places, e.g. 15.25.)
Expected value | $Type your answer here |
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(a2)
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What is the standard deviation of that selection? (Round answer to 2 decimal places, e.g. 15.25.)
Standard deviation | $Type your answer here |
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