Unformatted text preview: Chapter 9 Problems 1. A certain random variable X can take on the values -1, 1, and 5 with probability 3/4, 1/5, and 1/20 respectively. Find the expected value of X. Answer:- . 3 2. Suppose you pay $5 to play this game: From a box containing 6 red and 8 green marbles, you are allowed to select 1 marble after being blindfolded. If the marble is red, you win $10, but if the marble is green, you win nothing. What are your expected earnings from the game? Answer:- $0 . 71 3. Suppose you draw 1 card from a deck of 52 cards. If the card is a spade, you win $5; if the card is not a spade, you lose $2. What are your expected earnings from the game? Answer:- $0 . 25 4. Suppose that you pay $2 to play this game: A pair of dice is rolled. If the sum of the dots showing on top is 6, 7 or 8, you win $5. Otherwise, you win nothing. What are your expected earnings from this game? Answer: $0 . 22 5. According to the website Answers.com, 10 -13% of Americans are left-handed. Assume the percentage is 11%.5....
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- Spring '08