2. In a state lottery a 3 digit integer is selected at random (there are 1,000...
2. In a state lottery a 3 digit integer is selected at random (there are 1,000 such 3 digit numbers). If a player bets $67 on a particular number and if that number is selected, the payoff to the player is $760 minus the $67 paid for the ticket. Let X equal the payoff to the player, namely, -$67 or $693, and find IEX, that is, the player’s expected payoff.
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2. In a state lottery a 3 digit integer is selected at random
(there are 1,000...
In a state lottery, a player must choose 8 of the numbers from 1 to 40....
In a state lottery, a player must choose 8 of the numbers from 1 to 40. The lottery commission then performs an experiment that selects 8 of these 40 numbers at random. A player has one ticket. What is the probability that the player has (a) all 8 of the number selected? (b) seven of the 8 numbers selected? (c) at least 6 of the 8 numbers selected?
Problem 13-27 (Algorithmic) In a certain state lottery, a lottery ticket costs $3. In terms of...
Problem 13-27 (Algorithmic) In a certain state lottery, a lottery ticket costs $3. In terms of the decision to purchase or not to purchase a lottery ticket, suppose that the following payoff table applies: State of Nature Win Lose Decision Alternatives s1 s2 Purchase Lottery Ticket, d1 450000 -3 Do Not Purchase Lottery Ticket, d2 0 0 A realistic estimate of the chances of winning is 1 in 200,000. Use the expected value approach to recommend a decision. If required,...
1. A state runs a lottery in which five numbers are randomly selected from 45 numbers...
1. A state runs a lottery in which five numbers are randomly selected from 45 numbers without replacement. A player chooses five numbers before the state's sample is selected. a. what is the probability that the five numbers chosen by a player match all five numbers in the state's sample? b. If a player enters one lottery each week, what is the expected number of weeks until a player matches all five numbers in the state's sample (caution: to get...
4.26 In a lottery game, three winning numbers are chosen uniformly at random from (1, ,100), samp...
4.26 In a lottery game, three winning numbers are chosen uniformly at random from (1, ,100), sampling without replacement. Lottery tickets cost $1 and allow a player to pick three numbers. If a player matches the three winning numbers they win the jackpot prize of $1,000. For matching exactly two numbers, they win $15. For matching exactly one number they win $3 d) Hoppe shows that the probability that a single parlayed ticket will ulti- mately win the jackpot is...
You will write a two-class Java program that implements the Game of 21. This is a...
You will write a two-class Java program that implements the Game of 21. This is a fairly simple game where a player plays against a “dealer”. The player will receive two and optionally three numbers. Each number is randomly generated in the range 1 to 11 inclusive (in notation: [1,11]). The player’s score is the sum of these numbers. The dealer will receive two random numbers, also in [1,11]. The player wins if its score is greater than the dealer’s...
Please help to solve question 1 and subsections 1-4 1: Powerball Consider the multi-state lottery Powerball...
Please help to solve question 1 and subsections 1-4 1: Powerball Consider the multi-state lottery Powerball game. Each ticket is $2 and allows a player to select 5 white balls from 1 to 69 (without replacement), and 1 Red Powerball, from 1 to 26. The order of the five white balls does not matter when evaluating a win. If there are 64 losing whiteball numbers, how many ways can the winner pick 4 of them. If the player is only...
SEON BACK CES Chapter 05, Section 5.3, Problem 024 An instant lottery ticket costs $2. Out...
SEON BACK CES Chapter 05, Section 5.3, Problem 024 An instant lottery ticket costs $2. Out of a total of 10,000 tickets printed for this lottery, 500 tickets contain a prize ot $3 each, 125 tickets have a prize of $10 each, 2 tickets have a for this 000 each, and 1 ticket has a prze of $500. Let x be the random variable that denotes the net a playing this letery. toplayer wins by write the probability distribution of...
A box of 8 flashbulbs contains 3 defective bulbs. A random sample of 2 is selected...
A box of 8 flashbulbs contains 3 defective bulbs. A random sample of 2 is selected and tested. Let X be the random variable associated with the number of defective bulbs in a sample. (A) Find the probability distribution of X. (B) Find the expected number of defective bulbs in a sample.
Can someone do 28, 32, 40, and 44 198 CHAPTER 3 Probability c. Use the results of parts a and b to find ed value of Ca...
Can someone do 28, 32, 40, and 44
198 CHAPTER 3 Probability c. Use the results of parts a and b to find ed value of Cash 4 admission to college); the Law School Admissions Test, or LSAT; and the Graduate Record Exam, GRE (used for admission to graduate school). 32. New York's "Pick 10" is a 10/80 lottery Sometimes, these maltiple-choice tests discourage guessing by subtracting points for wrong answers In particular, a correct answer will be worth +1...
All answers were generated using 1,000 trials and native Excel functionality.) The Iowa Energy are scheduled to play against the Maine Red Claws in an upcoming game in the National Basketball Associat...
All answers were generated using 1,000 trials and native Excel
functionality.) The Iowa Energy are scheduled to play against the
Maine Red Claws in an upcoming game in the National Basketball
Association (NBA) G League. Because a player in the NBA G League is
still developing his skills, the number of points he scores in a
game can vary substantially. Assume that each player’s point
production can be represented as an integer uniform random variable
with the ranges provided in...
4.26 In a lottery game, three winning numbers are chosen uniformly at random from (1, ,100), sampling without replacement. Lottery tickets cost $1 and allow a player to pick three numbers. If a player matches the three winning numbers they win the jackpot prize of $1,000. For matching exactly two numbers, they win $15. For matching exactly one number they win $3 d) Hoppe shows that the probability that a single parlayed ticket will ulti- mately win the jackpot is...
SEON BACK CES Chapter 05, Section 5.3, Problem 024 An instant lottery ticket costs $2. Out of a total of 10,000 tickets printed for this lottery, 500 tickets contain a prize ot $3 each, 125 tickets have a prize of $10 each, 2 tickets have a for this 000 each, and 1 ticket has a prze of $500. Let x be the random variable that denotes the net a playing this letery. toplayer wins by write the probability distribution of...
Can someone do 28, 32, 40, and 44
198 CHAPTER 3 Probability c. Use the results of parts a and b to find ed value of Cash 4 admission to college); the Law School Admissions Test, or LSAT; and the Graduate Record Exam, GRE (used for admission to graduate school). 32. New York's "Pick 10" is a 10/80 lottery Sometimes, these maltiple-choice tests discourage guessing by subtracting points for wrong answers In particular, a correct answer will be worth +1...
All answers were generated using 1,000 trials and native Excel
functionality.) The Iowa Energy are scheduled to play against the
Maine Red Claws in an upcoming game in the National Basketball
Association (NBA) G League. Because a player in the NBA G League is
still developing his skills, the number of points he scores in a
game can vary substantially. Assume that each player’s point
production can be represented as an integer uniform random variable
with the ranges provided in...
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