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Describe the quantitative variable in context

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Reference no: EM133151206

Question - In your post, be sure to include the following:

1. Describe the quantitative variable in context. For example, when playing the lottery, one may state that the quantitative variable is the amount of money won, after the cost of the ticket is subtracted.

2. Explain how knowing the expected value of this variable can help someone make a more informed decision.

3. How can knowing the standard deviation of the variable also be useful?

Reference no: EM133151206

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