Answer:
The player should be required to pay $5 to make this a fair game.
Step-by-step explanation:
U ~ Uniform(0, 10)
E[U] = (0 + 10)/2
= 5
X | U ~ Poisson(U)
E[X | U] = U
By law of total probability for expectations,
E[X] = E[E[X|U]] = E[U] = $5
Therefore the player should be required to pay $5 to make this a fair game.
In a quadratic function, y = a(x²) the smaller the coefficient "a", the larger is the parabola:
From widest to narrowest:
1) y=1/3x² (Widest)
2) y= -1/2x² (Wider)
3) y=-9x² (narrowest)
-58 then -8 then 17 then .78
X+17.92+15.33=72.31
-17.92
-15.33
x= 39.06
The amount you started with was $39.06.
Hope this helps ;}
