Each problem below describes an experiment and defines a random variable. For ea

Question

Each problem below describes an experiment and defines a random variable. For each problem: (A) find the distribution of the random variable (and provide it as a chart) (B) calculate the expected value of the random variable. Do not round variables
A certain brand of trading cards is available in smaller packs that cost $2 each. Assume that any given pack has a 10% chance of containing a rare card, independently of other packs. Alice will buy and open a pack until she gets a rate card, but she will not buy more than five. Let M be the amount of money Alive will spend. Each problem below describes an experiment and defines a random variable. For each problem: (A) find the distribution of the random variable (and provide it as a chart) (B) calculate the expected value of the random variable. Do not round variables
A certain brand of trading cards is available in smaller packs that cost $2 each. Assume that any given pack has a 10% chance of containing a rare card, independently of other packs. Alice will buy and open a pack until she gets a rate card, but she will not buy more than five. Let M be the amount of money Alive will spend. (A) find the distribution of the random variable (and provide it as a chart) (B) calculate the expected value of the random variable. Do not round variables
A certain brand of trading cards is available in smaller packs that cost $2 each. Assume that any given pack has a 10% chance of containing a rare card, independently of other packs. Alice will buy and open a pack until she gets a rate card, but she will not buy more than five. Let M be the amount of money Alive will spend.

Explanation / Answer

Here X is the random variable denoting no. of trials to get the first rate card. a)For X=x ther emust be run of X-1 failures followed by a succes so P(X=x)=p(1-p)x-1 x=1,2,3,.....(0

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