Calculate the expected profit and probability , Basic Statistics

Assignment Help:

An individual has $ 100 initially. He repeatedly plays a game of chance in which he earns $ 100 with probability 0.8 or loses $ 100 with probability 0.2. The stops playing at the first of two possibilities: he has no more money or he has 400$.

(A) On average, how many times will heplays?

(B) What is the probability that he will end with $ 400?

(C) Calculate the expected profit. Would he have had a better expected profit if he started with $ 200?

 


Related Discussions:- Calculate the expected profit and probability

Assumed means deviations in f2 test, Assumed Means Deviations in F2 Test : ...

Assumed Means Deviations in F2 Test : When actual means of X and Y variables are in fractions the calculations can be simplified by taking the deviations from assumed means. When d

Sample space of an experiment, 1.The resumés of 2 males applicants for a co...

1.The resumés of 2 males applicants for a college teaching position in chemistry are places in the same file as the resumés of 2 female applicants. Two positions become available a

Probability, A certain manufactured item is visually inspected by two diffe...

A certain manufactured item is visually inspected by two different inspectors. When a defective item comes through the line, the probability that it gets by the first inspector is

Governmental Accounting, The fund statements for gorvernmental funds should...

The fund statements for gorvernmental funds should include a? A. Balance sheet for governmental funds. B. Statement of revenues,expenses, and changes in fund net assets. C.Statemen

Closing Stock , How to calculate closing stock in Tally while we are postin...

How to calculate closing stock in Tally while we are posting with inventory.

Sale of an asset on account of depreciation, Write a short note on Sale of ...

Write a short note on Sale of An Asset on account of Depreciation. Ans. An asset can be sold anytime before or after its useful life estimated time, in case the asset is sold more

Jovian moons more geologically active than rocky planet, Why are Jovian moo...

Why are Jovian moons more geologically active than small rocky planets? - Ices deform and melt at much lower temperatures than rock, allowing icy volcanism and tectonics at sur

Tax, _______ 1. F''s share of income from various sources is as follows for...

_______ 1. F''s share of income from various sources is as follows for the current year: Source F''s Share of Entity''s Net Income F''s Share of Distributions ABC Partnership after

Calculate the monopoly profits and probability , Each firm in a competitive...

Each firm in a competitive research industry can undertake one project at a constant cost, f = $960 to try and develop a certain new product. The inverse demand curve for the new

Write Your Message!

Captcha
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!

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