Suppose that you are offered the following “deal”. You roll…

Suppose that you are offered the following “deal”. You roll a die. If you roll a 1 or 2, you win $12. If you roll a 3, 4 or 5 you win $5. If you roll a 6, you pay $40. A. Complete the PDF Table. List the x values from largest to smallest and round numbers to three decimal places.   x P(x)   B. Find the expected value. Round to two decimal places. C. Interpret the expected value. D. Based on the expected value, should you play this game? Video on Expected Value Hint Textbook Pages

A venture capitalist, willing to invest $1,000,000, has thre…

A venture capitalist, willing to invest $1,000,000, has three investments to choose from. The first investment, a software company, has a 20% chance of returning $5,000,000 profit, a 30% chance of returning $1,000,000 profit, and a 50% chance of losing the million dollars. The second company, a hardware company, has a 10% chance of returning $3,000,000 profit, a 30% chance of returning $1,000,000 profit, and a 60% chance of losing the million dollars. The third company, a biotech firm, has a 10% chance of returning $6,000,000 profit, a 80% of no profit or loss, and a 10% chance of losing the million dollars. Order the expected values from smallest to largest. Video on Expected Value Hint Textbook Pages

Answer the following True or False: A survey is taken of 35…

Answer the following True or False: A survey is taken of 35 randomly selected LTCC students asking them, “Do you plan to transfer to a university next year?” The distribution of possible responses of the 35 students is an example of a binomial distribution. Hint Textbook Pages

Answer the following questions and round your answers to 2 d…

Answer the following questions and round your answers to 2 decimal places. 70% of bald eagles survive their first year of life. If 25 bald eagles are selected at random, find the probability that A. Exactly 18 of them survive their first year of life. B. At most 19 of them survive their first year of life. C. More than 16 of them survive their first year of life. D. Between 15 and 22 (including 15 and 22) of them survive their first year of life. Hint Video on Using the TI 84 Calculator to Find Binomial Probabilities Textbook Pages

Suppose that you are offered the following “deal.” You roll…

Suppose that you are offered the following “deal.” You roll a die. If you roll a 6, you win $10. If you roll a 4 or 5, you win $5. If you roll a 1, 2, or 3, you pay $8. A. Complete the PDF Table. List the x values from largest to smallest.   x P(x)   B. Find the expected value. C. Interpret the expected value. D. Based on the expected value, should you play this game? Video on Expected Value Hint Textbook Pages