Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 304 Weeks Ago, 3 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 22 Jan 2018 My Price 6.00

4-Spot Keno


Keno In a game of 4-Spot Keno, the player picks 4 numbers from 1 to 80. The casino randomly selects 20 winning numbers from 1 to 80. The table below shows the possible outcomes of the game and their probabilities, along with the amount of money (Payout) that the player wins for a $1 bet. If X = the payout for a single $1 bet, you can check that μX = $0.70 and σX = $6.58.

 

(a) Interpret the values of mX and sX in context.

(b) Jerry places a single $5 bet on 4-Spot Keno. Find the expected value and the standard deviation of his winnings.

(c) Marla plays five games of 4-Spot Keno, betting $1 each time. Find the expected value and the standard deviation of her total winnings.

(d) Based on your answers to (b) and (c), which player would the casino prefer? Justify your answer.

 

 
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Maurice Tutor
(5)
Status NEW Posted 22 Jan 2018 06:01 PM My Price 6.00

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