In the game of roulette, a player can place a $7 bet on thenumber 28 and have a

Question

In the game of roulette, a player can place a $7 bet on thenumber 28 and have a 1/38 probability of winning. If the metal balllands on 28, the player wins $245. Otherwise, the casino takes theplayer’s $7. What is the expected value of the game to theplayer? If you played the game 1000 times, how much would youexpect to lose?
The expected value is $
The player would expect to lose about $
Find the mean, variance, and standard deviation of the binominaldistribution with given values of n&p. n=90, p=0.7
The mean is
The variance is
The standard deviation is
62% of men consider themselves professional baseball fans. Yourandomly select 10 men and ask each if he considers himself aprofessional baseball fan. Find the probability that the number whoconsider themselves baseball fans is (a) exactly eight (b) at leasteight (c) less than eight. If convenient use technology to find theprobabilities
(a)     P(8)=
(b)     P(x>8)
(c)     P(<8)
Students in a class take a quiz with eight questions. The number xof questions answered correctly can be approximated by thefollowing probability distribution. Complete parts (a) throughe
X
0=p(x) 0.02
1=p(x) 0.02
2=p(x) 0.06
3=p(x) 0.06
4=p(x) 0.14
5=p(x) 0.25
6=p(x) 0.28
7=p(x) 0.12
8=p(x) 0.05
(a)     Use the probability distributionto find the mean of the probability distribution (round to thenearest tenth)
(b)     Use the probability distributionto find the variance of the probability distribution
(c)     Use the probability distributionto find the standard deviation of the probability distribution
(d)     Use the probability distributionto find the expected value of the probability distribution
(e)     Interpret the results
(a)     The expected number of questionsanswered correctly is 2.9 with a standard deviation of 1.8questions 1.7
(b)     The expected number of questionsanswered correctly is 5.1 with a standard deviation of 0.02questions
(c)     The expected number of questionsanswered correctly is 1.7 with a standard deviation of 5.1questions
(d)     The expected number of questionsanswered correctly is 5.1 with a standard deviation of 1.7questions
Multiple-choice questions each have fire possible answers(a,b,c,d,e) one of which is correct. Assume that you guess theanswers to three such questions
(a)     Use the multiplication rule tofind P(WCW) where C denotes a correct answer and W denotes a wronganswer
P(WCW)
(b)      Beginning with WCW, make acomplete list of the different possible arrangements of one correctanswer and two wrong answers, then find the probability for eachentry in the list
P(WCW)-see above
P(CWW)
P(WWC)
(c)     Based on the preceding results,what is the probability of getting exactly one correct answer whenthree guesses are made?
Determine whether the random variable is discrete or continuous
(a)     The number of statistics studentsnow reading a book
(b)     The number of bald eagles in thecountry
(c)     The square footage of a house
(d)     The height of a randomly selectedgiraffe
(e)     The number of hits to a website aday

Explanation / Answer

E(X) = 245(1/38) + (-7)(37/38) = -0.3684 per game

If it is played 1000 times, we would have a loss of 1000(0.3684)= 368.40$

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