Answer:
The expected value of profit is -0.5125. This is expected loss as value is negative.
Step-by-step explanation:
We are given the following in the question:
P(winning) = 0.075
Thus,
P(Loosing) =

If we win we gain a profit of $5.50 and if we loose the lottery, we loose $1.
Thus, we can form the probability distribution in the following manner:
Event: Winning Loosing
Profit(x): +5.50 -1
P(x): 0.075 0.925
We have to calculate the expected value of the profit.

Thus, the expected value of profit is -0.5125. This is expected loss as value is negative.
Hey there!
63 = 13 + 2P subtract 13 from both sides
50 = 2P divide both sides by 2
25 = P
So the cost of one pass = $25
Hope this helps!
Answer:
Given:
1).
divided by 
⇒ 
⇒ 
By factorising numerator by using identity, 
⇒ 
⇒ 
⇒
<u> {Answer}</u>
2).
divided by 
⇒ 
⇒
⇒ <u>
</u> <u>{ Answer}</u>
Answer:
41.82$
Step-by-step explanation:
The prices are
7.58$, 16$, 18.24$.
To get the total of all what Lucy bought, You add the prices altogether.
That is,
18.24$
+16.00$
+<u>0</u><u>7</u><u>.</u><u>5</u><u>8</u><u>$</u>
41.82$
The total amount of what Lucy bought is 41.82$