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Course: Statistics and probability?>?Unit 9
Lesson 8: More on expected value- Term life insurance and death probability
- Getting data from expected value
- Expected profit from lottery ticket
- Expected value while fishing
- Comparing insurance with expected value
- Expected value with empirical probabilities
- Expected value with calculated probabilities
- Making decisions with expected values
- Law of large numbers
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Expected value with empirical probabilities
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Problem
Rohit is an avid runner and has kept track of the distances of each of his last runs. The data he has collected on the distances of his runs are shown in the table below.
Each time Rohit goes running in the future, he is going to randomly select of these runs and repeat it.
Plot points to represent the expected total number of miles ran for each number of randomly selected runs.
Distance (miles) | Runs |
---|---|
Total |
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