User Account

All Pages

Play a game of chance

Assignment Help Basic Statistics
Reference no: EM132227810

For $16 you can may play a game of chance: Draw a random number from 1 to 6 from a hat. You square the number you roll and you win that much cash. What is the expected value of such a game (take into account the cost to play)? I just want to know is there a formula I need to use here? I can get to the answer -5/6 but thats just me doing the math in my head , is there a specific formula I should use?

Reference no: EM132227810

Questions Cloud

Determine at least how many of the eruptions : Using? Chebychev's Theorem, determine at least how many of the eruptions lasted between 1.34 and 4.76 minutes.
Authority between traditional staff and line functions : Discuss the differences in roles and authority between traditional staff and line functions.
How confident is kelsier that the average maximum power : How confident is Kelsier that the average maximum power that the average power supply of this batch can provide is at least 148 Watts?
Discussing the productivity of your office staff : You and a colleague are having lunch, and begin discussing the productivity of your office staff.
Play a game of chance : For $16 you can may play a game of chance: Draw a random number from 1 to 6 from a hat. You square the number you roll and you win
When do the standard deviation and standard error : When do the standard deviation and standard error have the same value or are close?
Nominate one of your subordinates as your replacement : You are being promoted to a new assignment in your company and your boss has asked you to nominate one of your subordinates as your replacement.
Find the indicated probability : a) Let z be a random variable with a standard normal distribution. Find the indicated probability. (Round your answer to four decimal places.)
Why is hypothesis testing important : Why is Hypothesis testing important? When is Hypothesis testing most useful?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Using the consumer price index cpi what was the purchasing

the take home pay of cody and the cpi for 2007 and 2004

  Estimate the percentage of adults

Find the sample? size, n, needed to estimate the percentage of adults who have consulted fortune tellers. Use a 0.03 margin of? error

  There are 136 people in the second group and this group wil

it has been observed that some persons who suffer acute heartburn again suffer acute heartburn within one year of the

  Find expected value-variance of number of altered accounts

What is the probability that at least one of the alternations is discovered? Find the expected value and variance of the number of altered accounts discovered during the audit.

  Find an internet source that reports on a study

Find an Internet source that reports on a study and describes the data. Print out the description and answer the questions above.

  Flight arrivals distributions of delays in flight arrival

Which is more usual, a flight arriving 4 minutes earlier than the mean delay time or a flight arriving 4 minutes after this time? Explain.

  Draw a separate well-labeled normal curve for each part

Inverse Normal, Standard Assume a standard Normal distribution. Draw a separate, well-labeled Normal curve for each part.

  Blood type ab is found in only 3 of the populationdagger if

blood type ab is found in only 3 of the population. if 290 people are chosen at random find the probability of the

  As we have noted in previous chapters even a very small

as we have noted in previous chapters even a very small effect can be significant if the if the sample is large enough.

  Is collinearity between the independent variables a concern

Do the independent variables correlate statistically significantly and practically with the dependent variable and Is collinearity between the independent variables a concern?

  Are the number of students in class responding strongly

The question that is of greatest interest to administrators is, "Do you agree with the following statement: ‘overall the instructor was a good teacher.'" The possible responses are Strongly agree, Agree, No opinion, Disagree, and Strongly disagre..

  Advantage of moving-part logic systems

1. Name one advantage of moving-part logic systems compared to fluidic systems. 2. Name one advantage of fluidic systems compared to moving-part logic systems.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd