Expected value of the bet is
the sum of the products of value of outcome and its probability,
less the amount paid to place the bet.
Outcomes value probability
win 225 1/4
lose 0 3/4
cost of bet = 40
So expected value of bet
E[X]=225*(1/4)+0*(3/4)-40
=56.25-40
=16.25
This means that in the long run, gambler will win, since the expected value is positive. (does NOT mean she will win in the next bet!)
Answer:
Quadrilaterals
Step-by-step explanation:
X will be between 21 and 24
Answer:
72
Step-by-step explanation:
If he reads 24 pages in 1/3 of an hour, he reads 3 times as many pages in 1 hour.
3 × 24 pages = 72 pages
Answer: 72
Answer:
Step-by-step explanation:
Given
The attached table
Required
Expected number of Daffodil when N = 150
First, we calculate the probability of having a Daffodil.
This gives:
Simplify
When there are 150 flowers, the prediction of Daffodils is:
