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77julia77 [94]
3 years ago
8

Suppose a basketball player has made 217 out of 302 free throws. If the player makes the next 3 free throws, I will pay you $23.

Otherwise you pay me $15. Step 1 of 2 : Find the expected value of the proposition. Round your answer to two decimal places. Losses must be expressed as negative values.
Mathematics
1 answer:
Anna [14]3 years ago
6 0

Answer:

-$0.90

Step-by-step explanation:

There are only two possible outcomes, winning $23 (W) or losing $15 (L). Therefore:

P(W) + P(L) = 1

The probability of the player making his next 3 free throws (P(W)) is:

P(W) = \frac{217}{302}*\frac{217}{302}*\frac{217}{302}\\P(W) = 0.37098

The probability of the player NOT making his next 3 free throws (P(L)) is:

P(L) = 1 - P(W) = 1 - 0.37098\\P(L) = 0.62902

Expected value (EV) is given by the payoff of each outcome multiplied by its probability:

EV = (23*0.37098) -(15*0.62902)\\EV = -\$0.90

The expected value of the proposition is -$0.90

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Read 2 more answers
PLEASE HELP! The table shows the number of championships won by the baseball and softball leagues of three youth baseball divisi
Irina18 [472]

Answer:

Question 1: P ( B | Y ) = \frac{ P ( B and Y)}{ P (Y)} = \frac{ \frac{2}{16}}{ \frac{4}{16}} = \frac{1}{2}

Question 2:

A. P ( Y | B ) = \frac{ P(Y and B) }{ P(B) } = \frac{ \frac{2}{16} }{ \frac{6}{16} } = \frac{1}{3}

B. P( Z | B ) = \frac{ P ( Z and B)}{ P (B)}= \frac{ \frac{1}{16} }{ \frac{6}{16} } = \frac{1}{6}

C. P((Y or Z)|B) = \frac{ P ((Y or Z) and B)}{P(B)}= \frac{ \frac{3}{16}}{ \frac{6}{16}}= \frac{1}{2}

Step-by-step explanation:

Conditional probability is defined by

P(A|B)= \frac{P(A and B)}{P(B)}

with P(A and B) beeing the probability of both events occurring simultaneously.

Question 1:

B: Baseball League Championships won, beeing

P ( B ) = \frac{ 6 }{16}

Y: Championships won by the 10 - 12 years old, beeing

P ( Y)= \frac{ 4 }{ 16 }

then

P( B and Y)= \frac{ 2 }{ 16 }[/tex]

By definition,

P ( B | Y ) = \frac{ P ( B and Y)}{ P (Y)} = \frac{ \frac{2}{16} }{ \frac{4}{16} }  = \frac{1}{2}

Question 2.A:

Y: Championships won by the 10 - 12 years old, beeing

P ( Y)= \frac{ 4 }{ 16 }

B: Baseball League Championships won, beeing

P ( B ) = \frac{ 6 }{16}

then

P( B and Y)= \frac{ 2 }{ 16 }[/tex]

By definition,

P ( Y | B ) = \frac{ P(Y and B) }{ P(B) } = \frac{ \frac{2}{16} }{ \frac{6}{16} } = \frac{1}{3}

Question 2.B:

Z: Championships won by the 13 - 15 years old, beeing

P ( Z)= \frac{ 1 }{ 16 }

B: Baseball League Championships won, beeing

P ( B ) = \frac{ 6 }{16}

then

P( Z and B)= \frac{ 1 }{ 16 }[/tex]

By definition,

P( Z | B ) = \frac{ P ( Z and B)}{ P (B)}= \frac{ \frac{1}{16} }{ \frac{6}{16} } = \frac{1}{6}

Question 3.B

Y: Championships won by the 10 - 12 years old, beeing

P ( Y)= \frac{ 4 }{ 16 }

Z: Championships won by the 13 - 15 years old, beeing

P ( Z)= \frac{ 1 }{ 16 }

then

P (Y or Z) = P(Y) + P(Z) = \frac{6}{16}

B: Baseball League Championships won, beeing

P ( B ) = \frac{ 6 }{16}

so

P((YorZ) and B)= \frac{3}{16}

By definition,

P((Y or Z)|B) = \frac{ P ((Y or Z) and B)}{P(B)}= \frac{ \frac{3}{16}}{ \frac{6}{16}}= \frac{1}{2}

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Answer:

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