The probability of winning a stake is $5. The chance of winning
each stake is 50%. You plan to bet in increments of $5, $10, $20,
$40, $80, $160 ($315 in total) for each consecutive loss. For each
win, you start back at $5 and continue betting following the
incremental bet scheme. This means you would need to win 64 times
without losing 7 in a row. What is the probability of this
happening?
Many track hurdlers believe that they have a better chance of
winning if they start in the inside lane that is closest to the
field. For the data below, the lane closest to the field is Lane 1,
the next lane is Lane 2, and so on until the outermost lane, Lane
6. The data lists the number of wins for track hurdlers in the
different starting positions. Calculate the chi-square test
statisticΛ20 to test the claim that the probabilities...
A basketball player shoots 3 free throws. On each throw, she has
a 70% chance of making the shot. Assume the outcomes of the throws
are independent. What is the probability that she makes the first
two free throws and then misses the last one?
A gambling game called "Rollo" pays 3 to 1, and you have a 1 in
6 chance of winning on any given play. Find the probability that
you lose a total of $20 or more if you bet one dollar on each of
200 plays of Rollo. Give your answer in percent, without the
percent sign.Describe the details of your calculation in the previous problem.
Describe the box model (how many tickets in the box model, what
numbers are on...
Suppose we have a 20% chance of winning a game and play 30
times. What is the probability we win the game 4-13 times (note: 4
and 13 are included in the interval)? Show your work. If you use a
calculator, you must identify the list(s) and/or function(s), with
input(s), you used. Give your answer to three decimal places.
Suppose that the Raptors have an approximate 45% chance of
winning against the Golden State Warriors (San Francisco’s
basketball team) in any one game, and that the outcomes of each
game are independent of others. In the NBA finals, the first team
to win four out of seven games will win the championships. Once
four games are won, the championships are over and any remaining
games will not be played.
Find the probability that the Raptors win the NBA finals...
12) You have a 14% chance of winning when you play a
certain game. You play the game 5 times. Let W = the number of
times you win.
a) Find P( W = 2 ).
b) Find the mean for W.
c) Find the standard deviation for W.
13) Let X= N( 5,2 ). Find x given the P( X < x ) =
.984
3) If you have a 40% probability of winning at a game of
roulette, how many games can you expect to win after playing 30
games?
4) Calculate the variance of the problem above.
5) If Sarah rolls a 6-sided number cube, how many times can she
expect to roll a 4 if she plays 18 games?
You have a chance to buy an annuity that pays $24,000 at the
beginning of each year for 5 years. You could earn 4.5% on your
money in other investments with equal risk. What is the most you
should pay for the annuity?
A salesman has an 80% chance of making a sale on each call. If 3
calls are made, let X=total number of sales and Y=total profit from
the sales were the profit Y is calculated as follows: Any Sales on
the first two calls yield a profit of $100 each. By the time the
third call is made, the original product has been replaced by a new
product whose sale yields a profit of $200. Thus, for example, the
sequence...