This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose a slot machine has an expected payout of .95 cents on the dollar, meaning for every dollar ... (Read 16 times)

armygirl

  • Hero Member
  • *****
  • Posts: 556
on: Jul 24, 2018
Suppose a slot machine has an expected payout of .95 cents on the dollar, meaning for every dollar you play, you get 95 cents back. What is your expected value for the amount lost per dollar played on this machine?
 a. 0.95
  b. -0.05
  c. -1.00
  d. The entire jackpot, if you play long enough.

Question 2

Suppose 5 of the people who buy a certain type of DVD player return it to get their money back. The DVD player costs 100 . What is the expected loss, per customer, for the company due to returns (ignoring the monetary value of the returned DVD player)?
 a. 5
  b. 0; most people don't return it
  c. Either 0 or 100, but it is impossible to determine which.
  d. 100


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

coyin

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 24, 2018
Answer to Question 1

B

Answer to Question 2

A


armygirl

  • Member
  • Posts: 556
Reply 2 on: Jul 24, 2018
Wow, this really help

helenmarkerine

  • Member
  • Posts: 324
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

The 1993 “Rain Machine”over the North-Central U.S The 1993 “Rain Machine”over the North-Central U.S
A flat-tip (straight-blade) screwdriver. The width of the blade should match the width of the slot ... A flat-tip (straight-blade) screwdriver. The width of the blade should match the width of the slot ...
A typical two-line cleaning machine hookup, showing an extension hose that can be used to squirt a ... A typical two-line cleaning machine hookup, showing an extension hose that can be used to squirt a ...
ECG MACHINE ECG MACHINE
ECG machine. ECG machine.
If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ... If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ...
Video: Basic rhythm - control centers in medulla oblongata, spirograph and normal tidal cycle

For a complete list of videos, visit our video library