If a random student came to you and said that his object was to enroll in the cl

Question

If a random student came to you and said that his object was to enroll in the class in which he could expect the higher grade point average, which instructor would you recommend? Annual savings due to an energy efficiency project have a most likely value of $30,000. The high estimate of $40,000 has a probability of.25, and the low estimate of $20,000 has a probability of.35. what is the expected value for the annual savings? In the New Jersey and Nevada gaming casinos, craps is a popular gambling game. One of the many bets available is the "Hard-way 8." A $1 bet in this fashion will win the player $4 if in the game the pair of dice come up 4 and 4 before one of the other ways of totaling 8. For a $1 bet, what is the expected result? A man went to Atlantic City with $2000 and placed 100 bets of $20 each, one after another, on the same number on the roulette wheel. There are 38 numbers on the wheel, and the gaming casino pays 35

Explanation / Answer

expected value for annual saving is 40000*0.25 + 20000*0.35 + 30000 * 0.40

expected value = 29,000

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