The expected value per game is -0.26. Over 1000 games, you can expect to lose $263.16.

To find the expected value, we multiply the probability of winning by the amount of winnings, the probability of losing by the amount of loss, and adding those together.

We have a 1/38 chance of winning; 1/38(175) = $4.61. We also have a 37/38 chance of losing; 37/38(5) = $4.87.

$4.61-$4.87 = -$0.26 (rounded)

To five decimal places, our answer is -0.26136; multiplied by 1000 games, this is $261.36 lost.

3 0

4 years ago

As part of a study of the association between smoking and risk of squamous cell carcinoma, a logistic regression model was estim

AlekseyPX

Answer:

0.44

Step-by-step explanation:

Given the estimated logistic regression model on risk of having squamous cell carcinoma

-4.84 + 4.6*(SMOKER)

SMOKER = 0 (non-smoker) ; 1 (SMOKER)

What is the predicted probability of a smoker having squamous cell carcinoma?

exp(-4.84 + 4.6*(SMOKER)) / 1 + exp(-4.84 + 4.6*(SMOKER))

SMOKER = 1

exp(-4.84 + 4.6) / 1 + exp(-4.84 + 4.6)

exp^(-0.24) / (1 + exp^(-0.24))

0.7866278 / 1.7866278

= 0.4402863

= 0.44

3 0

3 years ago