In a box there are four prizes that are worth $20, three prizes worth $300, and one prize worth $2000. a player will reach into the box and draw one of the prizes at random. what is the fair price for this game?

The fair price for this game is $372.5

Step-by-step explanation:

Let's start by calculating the expected value for this game.

Let's call X to the random variable : ''The earnings for this game''

We calculate E(X) by multiplying the probability of the random variable assuming the value ''xi'' by the prize for ''xi'' and adding for all its values.

There is a total of 8 prizes.

4 prizes out of a total of 8 worth $20.

3 prizes out of a total of 8 worth $300

1 prize out of a total of 8 worth $2000.

$372.5

The expected value for X is $372.5

Therefore, its reasonable set the ''fair price'' in $372.5 for this game.

mental cunning

explanation:

he is often referred to as a man of twists and turns

see below

step-by-step explanation:

7.   there are 10 data points in the set.   the middle point is between 5 and 6.   the middle point in the top half is 8   and the middle point in the bottom half is 3. to find the iqr , take point 8 and subtract point 3

mid term   point 8 = 100   point 3 = 88

iqr = 100-88 = 12

final   point 8 = 93   point 3 = 78

iqr = 93 - 78 = 15

the final has the greatest iqr

6.   b - there is a high data value that causes the data set to be asymmetrical for the males: the data for males are high and asymmetrical .   there is an outlier for the males that skews the data

5.   the   iqr is a better measure of spread for the movies and basketball games.   since the basketball game has an outlier, we do not want to use standard deviation for measurement.  

3.   the exam median is much higher than the class median.   the median line is farther to the right on the exams

2.   there is no way to tell what the means are from the box and whisker plots.