Prizes hidden on a game board with 10 spaces. One prize is worth $100, another is worth $50, and tw

Discussion in 'Calculator Requests' started by math_celebrity, Jan 8, 2017.

  1. math_celebrity

    math_celebrity Administrator Staff Member

    Imagine you are in a game show. Prizes hidden on a game board with 10 spaces. One prize is worth $100, another is worth $50, and two are worth $10. You have to pay $20 to the host if your choice is not correct. Let the random variable x be the winning

    (a) What is your expected winning in this game?
    (b) Determine the standard deviation of x. (Round the answer to two decimal places)

    (a) 100(0.1) + 50(0.1) + 10(0.2) - 20 = 10 + 5 + 2 - 20 = -3
    (b) 3.3 using our standard deviation calculator
     

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