Question

a) find the Expected Value of X b) find the Variance of X 3. Suppose that the profit made on the sale of a necklace can be either $7, $9, $11, $13, $15, or $17 with respective probabilities 1/12, 1/12, 1/4, 1/4, 1/6, and 1/6. What is the expected value of the profit here? 4. A coin is biased so that a head is three times as likely to occur as a tail. Find the expected number of tails when the coin is tossed twice. 5. In a gambling game a woman is paid $3 if she draws a Jack or a Queen and $5 if she draws a King or an Ace from an ordinary deck of 52 cards. If she draws any other card she does not win anything. How much should the woman pay to play the game if the game is to be a "fair" game? (A "fair" game is defined as a game with Expected Value = 0.) 6. In a certain country, approximately 1 out of 2100 people have a certain characteristic. What is the probability that in a town of 3000 people, at least one person has that characteristic? 9. A company that produces fine crystal knows from experience that 10% of its goblets have cosmetic flaws and must be classified as "seconds". a) Among six randomly selected goblets, how likely is it that only one is a "second"? b) What is the expected value (mathematical expectation) of the number of "seconds" among six randomly selected goblets? c) If goblets are selected one by one, what is the probability that at most five must be selected in order to find four that are not "seconds"?

          a) find the Expected Value of X
b) find the Variance of X
3. Suppose that the profit made on the sale of a necklace can be either $7, $9, $11, $13, $15, or $17 with respective probabilities 1/12, 1/12, 1/4, 1/4, 1/6, and 1/6. What is the expected value of the profit here?
4. A coin is biased so that a head is three times as likely to occur as a tail. Find the expected number of tails when the coin is tossed twice.
5. In a gambling game a woman is paid $3 if she draws a Jack or a Queen and $5 if she draws a King or an Ace from an ordinary deck of 52 cards. If she draws any other card she does not win anything. How much should the woman pay to play the game if the game is to be a "fair" game? (A "fair" game is defined as a game with Expected Value = 0.)
6. In a certain country, approximately 1 out of 2100 people have a certain characteristic. What is the probability that in a town of 3000 people, at least one person has that characteristic?
9. A company that produces fine crystal knows from experience that 10% of its goblets have cosmetic flaws and must be classified as "seconds".
a) Among six randomly selected goblets, how likely is it that only one is a "second"?
b) What is the expected value (mathematical expectation) of the number of "seconds" among six randomly selected goblets?
c) If goblets are selected one by one, what is the probability that at most five must be selected in order to find four that are not "seconds"?

a) find the Expected Value of X
b) find the Variance of X
3. Suppose that the profit made on the sale of a necklace can be either 7,9, 11,13, 15, or17 with respective probabilities 1/12, 1/12, 1/4, 1/4, 1/6, and 1/6. What is the expected value of the profit here?
4. A coin is biased so that a head is three times as likely to occur as a tail. Find the expected number of tails when the coin is tossed twice.
5. In a gambling game a woman is paid 3 if she draws a Jack or a Queen and5 if she draws a King or an Ace from an ordinary deck of 52 cards. If she draws any other card she does not win anything. How much should the woman pay to play the game if the game is to be a "fair" game? (A "fair" game is defined as a game with Expected Value = 0.)
6. In a certain country, approximately 1 out of 2100 people have a certain characteristic. What is the probability that in a town of 3000 people, at least one person has that characteristic?
9. A company that produces fine crystal knows from experience that 10% of its goblets have cosmetic flaws and must be classified as "seconds".
a) Among six randomly selected goblets, how likely is it that only one is a "second"?
b) What is the expected value (mathematical expectation) of the number of "seconds" among six randomly selected goblets?
c) If goblets are selected one by one, what is the probability that at most five must be selected in order to find four that are not "seconds"?

Added by Stephanie S.

Question

Please give Ace some feedback