Can I get help on a STATISTIC HOMEWORK PROBLEM?

Suppose a basketball player has made 233 out of 402 free throws. If the player makes the next 3 free throws, I will pay you $166. Otherwise you pay me $40.

Step 1 of 2 : Find the expected value of the proposition. Round your answer to two decimal places. Losses must be expressed as negative values.

3 Answers

Relevance
  • 1 month ago

    player's free throw percentage is 57.96% makes. three in a row would require making the first one 58pc of the time, followed by the second one also 58pc and then the third at 58pc. it follows that the chance of him doing this is 0.5796 cubed or 19.47 percent.

    expected payoff is then 19.47pc times $166 = $32.32 minus [1- 19.47pc] times -40. {minus 32.21} or a net positive of 11 cents.

    Source(s): grampa. -- now your challenge is to understand the logic of this so you can explain your reasoning to the class. if you can't do that, your chances on the future exam are poor.
  • 1 month ago

    15.3 is the lost a -15.3

    166 divided by 3 is 15.3, the constant 40 stays the same (don't dwell on the constant, it can confuse you).

    So in other words, -15.3 is what you lose

  • Lujk
    Lv 4
    1 month ago

    nei - not enough information

    cant assume that the free throws he made are legit, as in that he could have intentionally failed some free throws to make himself seem not as good

Still have questions? Get your answers by asking now.