The expected value of the winnings from the game is $4
<h3>How to determine the expected value?</h3>The payout probability distribution is given as:
Payout ($) 2 4 6 8 10
Probability 0.5 0.2 0.15 0.1 0.05
The expected value is then calculated as:
This gives
E(x) = 2 * 0.5 + 4 * 0.2 + 6 * 0.15 + 8 * 0.1 + 10 * 0.05
Evaluate the expression
E(x) = 4
Hence, the expected value of the winnings from the game is $4
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Answer:
Option b is correct 175
Step-by-step explanation:
n = 7
k = 6
3k -2 ------1
put k = 6 in above eq. for finding first term
a1 = 3(6) - 2 = 18 - 2 = 16
put k = 7 in above eq. for finding first term
a2 = 3(7) - 2 = 21 - 2 = 19
a3 = 3 (8) - 2 = 24 - 2 = 22
16, 19 , 22, ... //Arithmetic series formation
a1 = 16 , a2 = 19
d = a2 - a1 = 19 - 16 = 3 //Difference of first two terms
Using sum forumula for arithmetic series
sum =
=
=
=
=
= 7 * 25
= 175
