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bachelor in business administration
Polytechnic State University Sanluis Jan-2006 - Nov-2010
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Polytechnic State University Jan-2012 - Nov-2016
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Harvard Square Academy (HS2) Mar-2012 - Present
Category > StatisticsPosted 09 Jun 2017My Price4.00
Winning and losing
Winning and losing. Suppose that a person wins a game of chance with probability 0.40, and loses otherwise. If he wins, he earns 5 dollars, and if he loses, then he loses 4 dollars. Assume that he plays ten games independently. Let X denote the number of games that he wins. (Hint: His gain or loss is 5X + (−4)(10 − X) = 9X − 40, since he loses 10 − X games.)
a. What is his expected gain or loss (altogether) during the ten games?
b. What is the variance of his gain or loss (altogether) during the ten games?
c. What is the probability that he wins $32 or more during the ten games?