Answer:
The expected value of the safe bet equal $0
Step-by-step explanation:
If
is a finite numeric sample space and
for k=1, 2,..., n
is its probability distribution, then the expected value of the distribution is defined as
What is the expected value of the safe bet?
In the safe bet we have only two possible outcomes: head or tail. Woodrow wins $100 with head and “wins” $-100 with tail So the sample space of incomes in one bet is
S = {100,-100}
Since the coin is supposed to be fair,
P(X=100)=0.5
P(X=-100)=0.5
and the expected value is
E(X) = 100*0.5 - 100*0.5 = 0
Answer:
6
Step-by-step explanation:
Answer:
Step-by-step explanation:
We are looking for what number times .50 makes the equation true.
So, just do backwards equation:
Thus, meaning that what multiplied by 0.50 is equal to 17?
[tex]0.50 * 34[tex]
[tex]==> 17[tex]
Answer:
Step-by-step explanation:
<u>Probabilities</u>
When we choose from two different sets to form a new set of n elements, we use the so-called hypergeometric distribution. We'll use an easier and more simple approach by the use of logic.
We have 6 republicans and 4 democrats applying for two positions. Let's call R to a republican member and D to a democrat member. There are three possibilities to choose two people from the two sets: DD, DR, RR. Both republicans, both democrats and one of each. We are asked to compute the probability of both being from the same party, i.e. the probability is
Let's compute P(DD). Both democrats come from the 4 members available and it can be done in 
different ways.
For P(RR) we proceed in a similar way to get 
different ways.
The total ways to select both from the same party is
The selection can be done from the whole set of candidates in 
different ways, so
