Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 06 Nov 2017 My Price 6.00

prospective winnings.

New game. You pay $10 and roll a die. If you get a 6, you win $50. If not, you get to roll again. If you get a 6 this time, you get your $10 back.

a) Create a probability model for this game.

b) Find the expected value and standard deviation of your prospective winnings.

c) You play this game five times. Find the expected value and standard deviation of your average winnings.

d) 100 people play this game. What’s the probability the person running the game makes a profit?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Nov 2017 09:11 PM My Price 6.00

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