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    Expected Value of Insurance Payment

    Hi everyone, it's me again... Here is my current struggle and what I've done. First, i found the expected value of the amount of damage which is ($1,410 + $284)/2 because it is uniform. This is $847. There is a $532 deductible, so the expected payment is $847-$532 = $315. The problem is this...
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    Word Problem - Student Who Misbubbles Exam

    What I have done so far: If the student was expected to make a 75%, we basically expected he would get 15 of the 20 questions correct. Now that he has misbubbled his answers, we expect those 15 he should've gotten right to now be wrong. For the remaining questions he now has a 1/10 chance of...
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    Die With Multiple Same Sides

    Hi everyone - see my problem below. With a regular die I know my denominator is 36 for each probability. What I'm wondering here is if that changes since multiple sides of the die have the same number... Right now I have the probability of a sum of 2 is 1/36, a sum of 3 as 2/36, sum of 4 as...
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    Var (X) vs Var (X^2)

    Hi all - first post. I was hoping for help with the following problem: Let X be a discrete random variable and suppose Var(X)>1. How do Var(X) Var(X^2) compare? One of the answers is "not enough information to solve" which is what I'm leaning towards...I can find plenty of examples where...