Concept explainers
(a)
To find: the expectation of her to gain, on average.
(a)
Answer to Problem 19E
$50
Explanation of Solution
Formula used:
Calculation:
Suppose X is the amount gained
Probability model.
X | 100 | -150 |
P(X) | 0.8 | 0.2 |
Expected gain on average is
Hence, the expected gain on average is $50.
(b)
To find: the standard deviation.
(b)
Answer to Problem 19E
$100
Explanation of Solution
Formula used:
Calculation:
We first calculate the var(x)
The standard deviation is $100.
Chapter 16 Solutions
Stats: Modeling the World Nasta Edition Grades 9-12
Additional Math Textbook Solutions
Statistics for Business and Economics (13th Edition)
Essentials of Statistics, Books a la Carte Edition (5th Edition)
Basic Business Statistics, Student Value Edition
Elementary Statistics: Picturing the World (7th Edition)
Introductory Statistics (2nd Edition)
An Introduction to Mathematical Statistics and Its Applications (6th Edition)
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