Question

In: Math

x P(x) 0 0.15 1 0.1 2 0.3 3 0.45 Find the mean of this probability...

x	P(x)
0	0.15
1	0.1
2	0.3
3	0.45

Find the mean of this probability distribution. Round your answer to one decimal place.

2

x	P(x)
0	0.05
1	0.15
2	0.25
3	0.55

Find the standard deviation of this probability distribution. Give your answer to at least 2 decimal places

3

2.36 Is it worth it?: Andy is always looking for ways to make money fast. Lately, he has been trying to make money by gambling. Here is the game he is considering playing: The game costs $2 to play. He draws a card from a deck. If he gets a number card (2-10), he wins nothing. For any face card ( jack, queen or king), he wins $3. For any ace, he wins $5, and he wins an extra $20 if he draws the ace of clubs. Round answers to 2 decimal places.

a) Andy's expected profit per game is: $

b) Would you recommend this game to Andy as a good way to make money? Explain.

Yes, Andy could be lucky and might earn money in the long-run playing this game
No, we expect Andy to lose money each time he plays this game

4

2.38 Baggage fees: An airline charges the following baggage fees: $25 for the first bag and an extra $35 for the second. Suppose 54% of passengers have no checked luggage, 34% have only one piece of checked luggage and 12% have two pieces. We suppose a negligible portion of people check more than two bags.

a) The average baggage-related revenue per passenger is: $ (please round to the nearest cent)
b) The standard deviation of baggage-related revenue is: $ (please round to the nearest cent)
c) About how much revenue should the airline expect for a flight of 120 passengers? $ (please round to the nearest dollar)

5

For a group of four 70-year old men, the probability distribution for the number xx who live through the next year is as given in the table below.

xx	P(x)P(x)
0	0.0132
1	0.1030
2	0.3013
3	0.3916
4	0.1909

Verify that the table is indeed a probability distribution. Then find the mean of the distribution.
mean =
Report answer accurate to 1 decimal place.

6

Consider the discrete random variable XX given in the table below. Calculate the mean, variance, and standard deviation of XX.

XX	2	3	15	19
P(XX)	0.08	0.13	0.11	0.68

μμ =
σ2σ2 =
σσ =

What is the expected value of XX?

7

A bag contains 4 gold marbles, 9 silver marbles, and 24 black marbles. The rules of the game are as follows: You randomly select one marble from the bag. If it is gold, you win $4, if it is silver, you win $3. If it costs $1 to play, what is your expected profit or loss if you play this game?

$

8

The PTO is selling raffle tickets to raise money for classroom supplies. A raffle ticket costs $3. There is 1 winning ticket out of the 180 tickets sold. The winner gets a prize worth $76. Round your answers to the nearest cent.

What is the expected value (to you) of one raffle ticket? $

I need help with this

thanks

Expert Solution

milcah answered 1 year ago

x 0 1 2 3 4 P(X) 0.45 0.3 0.2 0.04 0.01 (a) Find and interpret...

x 0 1 2 3 4 P(X) 0.45 0.3 0.2 0.04 0.01 (a) Find and interpret the expected value of X (b)Find the variance of X (c)Find the probability that a person has 1 sibling given that they have less than 3 siblings. (d)Find the probability that a person has at least 1 sibling OR less than 2 siblings

X 1 2 3 4 5 P(X) 0.2 0.3 0.1 0.3 a) Finish the probability table...

X 1 2 3 4 5 P(X) 0.2 0.3 0.1 0.3 a) Finish the probability table b) Define Y = -2X+6 . c) Calculate E(X) Std(X) E(Y) Std(Y)

x −4 −3 −2 −1 0 P(X=x) 0.2 0.1 0.3 0.2 0.2 Step 1 of 5:...

x −4 −3 −2 −1 0 P(X=x) 0.2 0.1 0.3 0.2 0.2 Step 1 of 5: Find the expected value E(X). Round your answer to one decimal place. Step 2 of 5: Find the variance. Round your answer to one decimal place. Step 3 of 5: Find the standard deviation. Round your answer to one decimal place. Step 4 of 5: Find the value of P(X>−1)P(X>−1). Round your answer to one decimal place. Step 5 of 5: Find the value...

Suppose X has probability distribution x: 0 1 2 3 4 P(X = x) 0.2 0.1...

Suppose X has probability distribution x: 0 1 2 3 4 P(X = x) 0.2 0.1 0.2 0.2 0.3 Find the following probabilities: a. P(X < 2) b. P(X ≤ 2 and X < 4) c. P(X ≤ 2 and X ≥ 1) d. P(X = 1 or X ≤ 3) e. P(X = 2 given X ≤ 2)

x 0 1 2 3 4 P(X) .45 .3 .2 .04 .01 (c) Find the probability...

x 0 1 2 3 4 P(X) .45 .3 .2 .04 .01 (c) Find the probability that a person has 1 sibling given that they have less than 3 siblings. Hint: Use the conditional formula: P(A|B)=P(A and B)/P(B). In this case A: event of having 1 sibling and B: event of having less than 3 siblings. (d) Find the probability that a person has at least 1 sibling OR less than 2 siblings. Hint: Use the General Addition Rule: P(A...

1. Consider the probability distribution shown below. x 0 1 2 P(x) 0.25 0.60 0.15 Compute...

1. Consider the probability distribution shown below. x 0 1 2 P(x) 0.25 0.60 0.15 Compute the expected value of the distribution. (Enter a number.) Compute the standard deviation of the distribution. (Enter a number. Round your answer to four decimal places.) 2. What is the income distribution of super shoppers? A supermarket super shopper is defined as a shopper for whom at least 70% of the items purchased were on sale or purchased with a coupon. In the following...

Consider the following data: x -4 -3 -2 -1 0 P(X=x) 0.2 0.1 0.2 0.1 0.4...

Consider the following data: x -4 -3 -2 -1 0 P(X=x) 0.2 0.1 0.2 0.1 0.4 Step 2 of 5 : Find the variance. Round your answer to one decimal place. Step 3 of 5 : Find the standard deviation. Round your answer to one decimal place.

PROBABILITY 2. Given the following table x 0 1 2 3 Pr(X=x) 0.25 0.4 0.3 0.05...

PROBABILITY 2. Given the following table x 0 1 2 3 Pr(X=x) 0.25 0.4 0.3 0.05 answer each of the questions. Find µX and σX . Given that Y = -X+2 find µY and σY . 2B. Suppose that in the game of AFL the mean total number of points per match is 185 with a standard deviation of 33. Suppose that a season involves 202 matches. If the total points are normally distributed then answer the following questions....

Given x = [0, 0.05, 0.1, 0.15, 0.20, ... , 0.95, 1] and f(x) = [1,...

Given x = [0, 0.05, 0.1, 0.15, 0.20, ... , 0.95, 1] and f(x) = [1, 1.0053, 1.0212, 1.0475, 1.0841, 1.1308, 1.1873, 1.2532, 1.3282, 1.4117, 1.5033, 1.6023, 1.7083, 1.8205, 1.9382, 2.0607, 2.1873, 2.3172, 2.4495, 2.5835, 2.7183], write a Matlab script that computes the 1st and 2nd derivatives of O(h^2).

Consider the following data: x 4 5 6 7 8 P(X=x) 0.1 0.3 0.1 0.2 0.3...

Consider the following data: x 4 5 6 7 8 P(X=x) 0.1 0.3 0.1 0.2 0.3 Step 1 of 5: Find the expected value E(X). Round your answer to one decimal place. Step 2 of 5: Find the variance. Round your answer to one decimal place. Step 3 of 5: Find the standard deviation. Round your answer to one decimal place. Step 4 of 5: Find the value of P(X>6)P(X>6). Round your answer to one decimal place. Step 5 of...