Question 3 First attempt

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Cora is playing a game that involves flipping three coins at once. Let the random variable H be the number of coins that
Report: Mean (expected value) of a discrete random variable
land showing "heads". Here is the probability distribution for H : 100%
1/3 Definition and formula
H = # of heads 0 1 2 3
P (H) 0.125 1 0.375 0.375 0.125 Incorrect 2 InCorrect 3
the case of a discrete random variable, expected value or meanIncorrect
— denoted as E(X) or μX — is
​

the long-run average outcome. To find expected value, take each value, multiply it by its respective
Find the expected value of the Rodrigo
number ofplans to that
coins buy land
packs of baseball
showing cards until he
"heads". probability,
An electronics retailer offers an optional protection plan and add upisallplaying
Cora the products.
a game that involves flipping three coins
gets the card of his favorite player, but he only has for a mobile phone it sells. Customers can choose to buy at once. Let the random variable H be the number of
enough money to buy at most three packs. Suppose E(X)
the protection plan for $100, and in case of an accident, = μX = + xland
x1 p1 that
coins 2 p2 + ... + x"heads".
showing n pn Here is the probability
E(H) =
​ ​ ​ ​ ​ ​

"heads"
that each pack has a 10% chance of containing the card the customer pays a $50 deductible and the retailer will distribution for H :
= ∑ xi p i
Rodrigo is hoping for. cover the rest of the cost of that repair. The typical cost
to the retailer is $200 per repair, and the plan covers a
​ ​

H = # of heads 0 1 2 3
The table below displays the probability distribution of maximum of 3 repairs.
X , the number of packs of cards Rodrigo buys.
2/3 Calculations P (H) 0.125 0.375 0.375 0.125
Let X be the number of repairs a randomly chosen
customer uses under the protection plan, and let H
= # of heads
F be 0 expected
Find the 1 value of
2 the number
3 of coins that land
X = # of packs 1 2 3 the retailer's profit from one of these protection plans. showing "heads".
P (H) 0.125 0.375 0.375 0.125
P (X) 0.10 0.09 0.81 Based on data from all of its customers, here are the
probability distributions of X and F : E(H) = μ = E(H)
H
= + 1(0.375) +
0(0.125) "heads"
2(0.375) + 3(0.125)
Calculate the mean of X .
X = # of repairs 0 1 2 = 0 + 0.375 + 0.750 + 0.375
μX = packs
F =  retailer profit $100 −$50 −$200 −
= 1.5
Probability 0.90 0.07 0.02

4 Correct 3/3 The answer

Find the expected value of the retailer's profit per
protection plan sold.
The expected value is E(H) = 1.5 "heads".
An electronics retailer offers an optional protection plan
for a mobile phone it sells. Customers can choose to buy E(F ) = dollars
the protection plan for $100, and in case of an accident,
the customer pays a $50 deductible and the retailer will
cover the rest of the cost of that repair. The typical cost
to the retailer is $200 per repair, and the plan covers a
maximum of 3 repairs.

Let X be the number of repairs a randomly chosen

customer uses under the protection plan, and let F be
the retailer's profit from one of these protection plans.
Based on data from all of its customers, here are the
probability distributions of X and F :
 X = # of repairs 0 1 2
Question 3 First attempt
F =  retailer profit $100 −$50 −$200 −
Probability 0.90 0.07 0.02
Responses Draw Hints
Cora is playing a game that involves flipping three coins at once. Let the random variable H be the number of coins that
land showing "heads". Here is the probability
Calculate of X . for H :
distribution
the mean

μX1 =
1/3 Definition and formula
H = # of heads 0 2 3
repairs

P (H) 0.125 0.375 0.375 0.125 In the case of a discrete random variable, expected value or mean — denoted as E(X) or μX — is ​

the long-run average outcome. To find expected value, take each value, multiply it by its respective
Find the expected value of the number of coins that land showing "heads". probability, and add up all the products.

E(X) = μX = x1 p1 + x2 p2 + ... + xn pn
E(H) =
​ ​ ​ ​ ​ ​

"heads"

= ∑ xi p i ​ ​

2/3 Calculations

H = # of heads 0 1 2 3
P (H) 0.125 0.375 0.375 0.125

E(H) = μH = 0(0.125) + 1(0.375) + 2(0.375) + 3(0.125)

= 0 + 0.375 + 0.750 + 0.375

= 1.5

3/3 The answer

The expected value is E(H) = 1.5 "heads".