Author Question: Solve the problem that involves computing expected values in a game of chance. A game is played ... (Read 549 times)

mmm · **on:** Feb 2, 2020

Question 1

A service that repairs televisions sells maintenance agreements for

a year. The average cost for repairing a television is

and 5 in every 100 people who purchase maintenance agreements have televisions that require repair. Find the service's expected profit per maintenance agreement.
◦ $9.66
◦ $8.30
◦ $8.64
◦ $9.95

Question 2

Solve the problem that involves computing expected values in a game of chance.

A game is played using one die. If the die is rolled and shows a 2, the player wins

. If the die shows any number other than 2, the player wins nothing. If there is a charge of $1 to play the game, what is the game's expected value?
◦ -$1
◦ $0.33
◦ -$0.33
◦ $7.00

mammy1697 · **Reply #1 on:** Feb 2, 2020

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