exercise:35d2c57048: Difference between revisions

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(Created page with "<div class="d-none"><math> \newcommand{\NA}{{\rm NA}} \newcommand{\mat}[1]{{\bf#1}} \newcommand{\exref}[1]{\ref{##1}} \newcommand{\secstoprocess}{\all} \newcommand{\NA}{{\rm NA}} \newcommand{\mathds}{\mathbb}</math></div> Reese Prosser never puts money in a 10-cent parking meter in Hanover. He assumes that there is a probability of .05 that he will be caught. The first offense costs nothing, the second costs 2 dollars, and subsequent offenses cost 5 dollars each....")
 
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Reese Prosser never puts money in a 10-cent parking meter in Hanover.  He assumes that there is a probability of .05 that he will be caught.  The
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first offense costs nothing, the second costs 2 dollars, and subsequent offenses cost 5 dollars each.  Under his assumptions, how does the expected cost of parking 100 times without paying the meter compare with the cost of paying the meter each time?
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\newcommand{\mathds}{\mathbb}</math></div> Reese Prosser never puts money in a 10-cent parking
meter in Hanover.  He assumes that there is a probability of .05 that he will be caught.  The
first offense costs nothing, the second costs 2 dollars, and subsequent offenses cost
5 dollars each.  Under his assumptions, how does the expected cost of parking 100
times without paying the meter compare with the cost of paying the meter each time?

Latest revision as of 00:10, 14 June 2024

Reese Prosser never puts money in a 10-cent parking meter in Hanover. He assumes that there is a probability of .05 that he will be caught. The first offense costs nothing, the second costs 2 dollars, and subsequent offenses cost 5 dollars each. Under his assumptions, how does the expected cost of parking 100 times without paying the meter compare with the cost of paying the meter each time?