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name: Probability & Statistics Exercises Mathematics 107 due May 3, 2012 7. (a) One plays a game with a probability of 3/1000 of winning $500, a probability of 1/100 of winning $20, and a probability of 987/1000 of losing $2. Calculate the expected value of the winnings at this game. (b) Calculate the amount a player should lose if the game is to be fair, with the winnings and the probabilities as in part (a). 8. A small college has the following distribution of student ages: age frequency 16 20 17 50 18 100 19 400 20 500 • draw a bar graph for the ages • calculate the mode, median, and mean age. • calculate the standard deviation of the ages. 9. Circle the three topics which are of most interest to you to discuss in class: • linear, quadratic, and exponential algebraic models (Chapter 6) • fractals ( 7.6 ) • mathematics and music • trigonometry (Chapter 8) • finance (Chapter 9) • calculus overview ( 10.1, 10.2 ) • apportionment & linear programming ( 10.5, 10.6 )