Assume that there are 20 MMs in a bowl 5 red 11 yellow 4 gre

Assume that there are 20 M&M;\'s in a bowl (5 red, 11 yellow, 4 green). What is the probability of picking 4 M&M;\'s that are the same color? Assume that your \"utility\" is 5 if you have 4 M&M;\'s of at least 2 colors, and a \"utility\" of 1 if ail 4 are of the same color. What is your expected value of utility and your variance of utility?

Solution

 Assume that there are 20 M&M;\'s in a bowl (5 red, 11 yellow, 4 green). What is the probability of picking 4 M&M;\'s that are the same color? Assume th

Get Help Now

Submit a Take Down Notice

Tutor
Tutor: Dr Jack
Most rated tutor on our site