What is the distribution of x
There are 5 red balls and 3 blue balls in a box. 3 balls are drawn from the box at once. If at least 1 blue ball is drawn, the draw is marked a "success." Let X denote the number of successful draws after 6 draws. What is the distribution of X?
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Of three cards, one is painted red on both sides, one is painted black on both sides and one is painted red on one side and black on the other. A card is randomly chosen and placed on a table.
Robert wants to know if there is a relation between money spent on gambling and winnings.
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Two hundred simulation runs were completed using the probability of a machine breakdown from the table below. The average number of breakdowns from the simulation trials was 1.93 with a standard deviation of 0.20.
What is the expected number of throws you need to win? You have $6 in your pocket and decide to play this game until you either win or you go broke. What is your chance of winning?
A joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously. Is the above true or false and why?
What is the maximum amount a decision maker would pay for additional information?
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