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

Author Question: Suppose a mathematician computed the expected value of winnings for a person playing each of seven ... (Read 31 times)

Tirant22

  • Hero Member
  • *****
  • Posts: 532
on: Aug 1, 2018
Suppose a mathematician computed the expected value of winnings for a person playing each of seven different games in a casino. What would you expect to be true for all expected values for these seven games?
 
  What will be an ideal response?

Question 2

List the two requirements for a probability histogram. Discuss the relationship between the sum of the probabilities in a probability distribution and the total area represented by the bars in a probability histogram.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Briannahope

  • Sr. Member
  • ****
  • Posts: 364
Reply #1 on: Aug 1, 2018
Answer to Question 1

The expected values would be negative for the person playing, as the casinos are designed to make money.

Answer to Question 2

The sum of the probabilities in a probability distribution must be 1 and each individual probability must be between 0 and 1, inclusive. The total area of the bars in a probability histogram is 1.


Tirant22

  • Member
  • Posts: 532
Reply 2 on: Aug 1, 2018
Wow, this really help

shewald78

  • Member
  • Posts: 340
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

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

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Cellular section from the brain of a person who died from Alzheimer's disease. Cellular section from the brain of a person who died from Alzheimer's disease.
Working and Living and Playing in the City Dump of Phnom Penh, Cambodia Working and Living and Playing in the City Dump of Phnom Penh, Cambodia
Working and Living and Playing in the City Dump of Phnom Penh, Cambodia Working and Living and Playing in the City Dump of Phnom Penh, Cambodia
A warning label on a Honda hybrid warns that a person can be killed due to the high-voltage ... A warning label on a Honda hybrid warns that a person can be killed due to the high-voltage ...
Brushing off to finish-back. In a quiet voice ask the person to sit up with legs off the side of the ... Brushing off to finish-back. In a quiet voice ask the person to sit up with legs off the side of the ...
Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ... Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ...
Video: Electrocardiogram Examination

For a complete list of videos, visit our video library