How to solve the absolute value of 8-12
2 answers:
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Answer:
Expected value of the game: -$0.421
Expected loss in 1000 games: $421
Step-by-step explanation:
There are two possible outcomes for the event:
- There is a 1 in 38 chance of winning $280
- There is a 37 in 38 chance of losing $8
The expected value for a single game is:
The expected value of the game is -$0.421
In 1,000 plays, the expected loss is:
You would expect to lose $421.
I assume you are being asked to solve these equations. Since there wasn't an explanation as to how you are expected to solve them, I chose to demonstrate how to use a calculator matrix function. You can find matrix calculators online. My instructions are for a TI-84
Push the blue 2nd button then push x^-1 button (it says matrix above this button in blue)
Arrow over to edit to change the dimensions of the matrix and to put in your values. You have 3 equations (3 rows) and 4 terms (4 columns) so you put a 3x4 in for the dimension and the coefficients (see images).
You use the rref option in the math column in matrix to calculate the answer.
The numbers at the end are the solutions. x = -4, y = 2, z = -1
Push the blue 2nd button then push x^-1 button (it says matrix above this button in blue)
Arrow over to edit to change the dimensions of the matrix and to put in your values. You have 3 equations (3 rows) and 4 terms (4 columns) so you put a 3x4 in for the dimension and the coefficients (see images).
You use the rref option in the math column in matrix to calculate the answer.
The numbers at the end are the solutions. x = -4, y = 2, z = -1
Hey there!
Assuming that all the sections are the same size, there are four sections of equal size.
Blue would be one out of those four sections, so the probability is 1/4. In decimal form this is .25, and as a percent this is 25%.
Hope this helps!