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iogann1982 [59]
3 years ago
11

I play a gambling game in which I will win different amounts of money with different likelihood's. Suppose that I win X dollars

with a probability of P(X) (if C is negative I am losing money). The distribution is as follows: what is the appropriate value of P?
Mathematics
1 answer:
Nataliya [291]3 years ago
7 0

Answer:

p = 0.05

Step-by-step explanation:

Given

See attachment for the distribution

Required

Find p

To find p, we make use of:

\sum P(x) = 1

So, we have:

0.50 + 0.25 + 0.13 + 0.07 + p = 1

0.95 + p = 1

Make p the subject

p = 1 - 0.95

p = 0.05

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Express the mixed fraction into decimal :

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