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Lelu [443]
2 years ago
13

The probability that Mary will win a game is 0.03, so the probability that she will not win is 0.97. If Mary wins, she will be g

iven $180; if she loses, she must pay $17. If X = amount of money Mary wins (or loses), what is the expected value of X? (Round your answer to the nearest cent.)
Business
1 answer:
valkas [14]2 years ago
4 0

Answer:

Expected value of X = -11.09

Explanation:

Expected profit:

= Probability of winning × Amount she wins

= 0.03 × $180  

= 5.4

Expected loss:

= Probability of loosing × Amount she paid

= 0.97 × $17

= 16.49

Let X be amount of money Mary wins or loses.

E(X) = Expected profit - Expected loss

= 5.4 - 16.49

= -11.09

Expected value of X = -11.09

That is expected value of loss of $11.09

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a. Know each other better

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This ultimately implies that, a team comprises of individuals, workers or employees having complementary skills, knowledge and experience needed to execute a project or task successfully. Therefore, a worker that is working in a team is usually privileged to interact with the other members of the team and as a result, this enhances performance and strengthen the level of relationship they share.

Hence, teams have better communication than other workers because they get to know each other better in the course of brainstorming, interaction and sharing of ideas while trying to accomplish a common goal or execute a project (task).

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A tenant rented an apartment, signing a 15-month lease. After the lease expired, the tenant paid 1 month's rent and got a receip
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