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Chapter 4: Q.18 (page 283)

Complete the expected value table.

Short Answer

Expert verified

The expected value table is given below:

Step by step solution

01

Given Information

Every month, Javier participates in special events as a volunteer. In a month, he does no more than five events. He visits exactly five activities 35%of the time, four activities 25%of the time, three activities 20%of the time, two activities 10%of the time, one activity 5%of the time, and no activities 5%of the time.

02

Calculation & Explanation

Multiplying the Xcolumn with the P(X)column generates the third column in the table.

That is:

(0)*(0.2)=0.0,(1)*(0.2)=0.2,(2)*(0.4)=0.8and(3)*(0.2)=0.6...

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Most popular questions from this chapter

In one of its Spring catalogs, L.L. Bean庐 advertised footwear on 29 of its 192 catalog pages. Suppose we randomly survey 20 pages. We are interested in the number of pages that advertise footwear. Each page may be picked more than once.

a. In words, define the random variable X.

b. List the values that X may take on.

c. Give the distribution of X. X ~ _____(_____,_____)

d. How many pages do you expect to advertise footwear on them?

e. Is it probable that all twenty will advertise footwear on them? Why or why not?

f. What is the probability that fewer than ten will advertise footwear on them?

g. Reminder: A page may be picked more than once. We are interested in the number of pages that we must randomly survey until we find one that has footwear advertised on it. Define the random variable X and give its distribution.

h. What is the probability that you only need to survey at most three pages in order to find one that advertises footwear on it?

i. How many pages do you expect to need to survey in order to find one that advertises footwear?

Define the random variable X.

Suppose that nine Massachusetts athletes are scheduled to appear at a charity benefit. The nine are randomly chosen from eight volunteers from the Boston Celtics and four volunteers from the New England Patriots. We are interested in the number of Patriots picked.

a. In words, define the random variable X.

b. List the values that X may take on.

c. Give the distribution of X. X ~ _____(_____,_____)

d. Are you choosing the nine athletes with or without replacement?

According to a recent Pew Research poll, 75% of millenials (people born between 1981 and 1995) have a profile on a social networking site. Let X = the number of millenials you ask until you find a person without a profile on a social networking site.

a. Describe the distribution of X.

b. Find the (i) mean and (ii) standard deviation of X.

c. What is the probability that you must ask ten people to find one person without a social networking site?

d. What is the probability that you must ask 20 people to find one person without a social networking site?

e. What is the probability that you must ask at most five people?

There are two similar games played for Chinese New Year and Vietnamese New Year. In the Chinese version, fair dice with numbers 1, 2, 3, 4, 5, and 6 are used, along with a board with those numbers. In the Vietnamese version, fair dice with pictures of a gourd, fish, rooster, crab, crayfish, and deer are used. The board has those six objects on it, also. We will play with bets being \(1. The player places a bet on a number or object. The 鈥渉ouse鈥� rolls three dice. If none of the dice show the number or object that was bet, the house keeps the \)1 bet. If one of the dice shows the number or object bet (and the other two do not show it), the player gets back his or her \(1 bet, plus \)1 profit. If two of the dice show the number or object bet (and the third die does not show it), the player gets back his or her \(1 bet, plus \)2 profit. If all three dice show the number or object bet, the player gets back his or her \(1 bet, plus \)3 profit. Let X = number of matches and Y = profit per game.

a. In words, define the random variable X.

b. List the values that X may take on.

c. Give the distribution of X. X ~ _____(_____,_____)

d. List the values that Y may take on. Then, construct one PDF table that includes both X and Y and their probabilities.

e. Calculate the average expected matches over the long run of playing this game for the player.

f. Calculate the average expected earnings over the long run of playing this game for the player

g. Determine who has the advantage, the player or the house.
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