Thursday

October 30, 2014

October 30, 2014

Posted by **Mary** on Sunday, March 7, 2010 at 9:25pm.

You pay $5 to draw a chip from the urn. Here are the rules of the game:

if you draw a green chip, the dealer returns you your bet and gives you an additional $5.

if you draw a blue chip, the dealer returns you your bet and gives you $1.

if you draw a yellow chip, the dealer keeps your $5.

What is the expected value of this game? (use formula for expected value of discrete distribution)

- College Stats -
**PsyDAG**, Monday, March 8, 2010 at 10:54amI searched Google under the key words "

*formula for expected value of discrete distribution*" to get this:

http://www.google.com/search?client=safari&rls=en&q=formula+for+expected+value+of+discrete+distribution&ie=UTF-8&oe=UTF-8

In the future, you can find the information you desire more quickly, if you use appropriate key words to do your own search. Also see http://hanlib.sou.edu/searchtools/.

**Answer this Question**

**Related Questions**

Math - An urn contains 4 green, 6 blue and 10 yellow chips. You pay $5 to draw a...

Probability - urn1 contains 3 red chips and 1 white chip. urn2 contains 2 red ...

College Finite Math - Your Open QuestionShow me another » If the ball is either ...

math - an urn contains 3 blue chips and 7 red chips. sequentially draw 3 chips ...

statistics - an urn contains 3 blue chips and 7 red chips. sequentially draw 3 ...

math - a bin contains seven red chips, nine green chips, three yellow chips, and...

math - a bin contains seven red chips, nine green chips, three yellow chips, and...

algebra - A bin contains 8 blue chips, 5 red chips, 6 green chips, and 2 yellow ...

statistics - Urn I and Urn II each have 2 red chips and 2 white chips. Two chips...

algebra - a bag contains 4 red chips, 2 blue chips and 5 green chips. A chip is ...