1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lelu [443]
3 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]3 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

You might be interested in
I need help with a class on e2020 the class is College and Career readiness need help fast ​
bezimeni [28]

Answer:

what's your question on it?

8 0
3 years ago
Who conducts the certifcation election​
VladimirAG [237]

Answer: The NLRB i believe

Explanation: NLRB

7 0
3 years ago
Vijay Company reports the following information regarding its production costs. Direct materials $ 9.40 per unit Direct labor $
andriy [413]

Answer:

Unitary cost= $38.2

Explanation:

Giving the following information:

Direct materials $9.40 per unit

Direct labor $19.40 per unit

Variable overhead $ 9.40 per unit

<u>The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead) to calculate the unitary cost.</u>

UNitary cost= 9.4 + 19.4 + 9.4

Unitary cost= $38.2

8 0
3 years ago
Honestly guys, there is a lot of plagiarizing going on now. Taking someone else’s words off the internet and making it into your
ryzh [129]

plagiarism is wrong to do you could go to prison for this


8 0
3 years ago
A home furniture store, David's Furnishings, lowers its prices below those of
blagie [28]

Answer:

D

Explanation:

8 0
3 years ago
Read 2 more answers
Other questions:
  • Lupe's recorded balance was off by $43, and she thinks that it’s because she made a mistake in her records. What mistakes did sh
    12·2 answers
  • Compared to products, service marketing is more challenging because
    9·2 answers
  • During the year, the Senbet Discount Tire Company had gross sales of $1.15 million. The firm’s cost of goods sold and selling ex
    5·1 answer
  • Teri Martin Nerdmeister, CPA provides bookkeeping and tax services to her clients. She charges a fee of $60 per hour for bookkee
    7·1 answer
  • You just got hired as a quality intern for a small startup making 3D printers. Each printer uses a number of small motors and on
    9·1 answer
  • A factory machine was purchased for $216000 on January 1, 2022. It was estimated that it would have a $40000 salvage value at th
    10·1 answer
  • Why do you think special riders are necessary to cover jewelry, stamp collections, coin collections, and laptop computers?
    11·1 answer
  • 100 POINTS** How does the book " Sounder " Represent Christianity?
    8·1 answer
  • Adidea Corp. bought 100 units at $15 each. The company then sold 30 units at $25 each, and 50 percent of the purchase was paid i
    8·1 answer
  • The decision framework that is based on the relative distance between home and a foreign target country is the ______.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!