User Account

All Pages

Determining the expected value of gain

Assignment Help Basic Statistics
Reference no: EM132155852

At a raffle, 1000 tickets are sold at $1 each for four prizes of $300, $100, $50, and $5. You buy one tickets. What's the expected value of your gain? What's the expected value if you buy two tickets?

Reference no: EM132155852

Questions Cloud

Write in pseudo-code the siftdown algorithm for a min-heap : A ternary max-heap is similar to the binary max-heap that we have discussed in class, but now non-leaf nodes can have 3 children instead of 2.
Selecting a sample for experiment : A researcher is randomly selecting a sample for his experiment from a group of 30 high school students, 20 college students, and 10 graduate students.
Find the prime factorization of a number : Write a function that takes as a parameter a positive integer and returns a list (array) of the prime factors of the given integer.
Determining the expected value of gain : What's the expected value of your gain? What's the expected value if you buy two tickets?
How many commercials : The frequency count of programs with the number of commercials is found below:
What is the average number of programs : What is the average number of programs, µ, that will rated as good?
Elisa reported the presence of hiv antibody : ELISA reported the presence of HIV antibody. What is the probability that the selected person actually carries the HIV antibody?
What is the probability that in exactly two of the four : a. What is the probability that in exactly two of the four families the husband will exert the primary influence in choosing the make of a car?

Reviews

Write a Review

Basic Statistics Questions & Answers

  What is the ss residual or the amount of variation

The researchers recorded the following values: SSxy = 48.60, SSx = 355.73, and SSY = 96.40. What is the SS residual or the amount of variation in Y.

  Smoothness of the ?tted curve

Using the constant a 5 0.3, ?t an exponentially smoothed curve to the original time series. Repeat part (c) using a 5 0.7. How has the new value for the constant affected the smoothness of the ?tted curve?

  Find the probability that the sample mean

Question: A survey found that an American Family generates an average of 17.2 lb of glass garbage each year. Assume that the standard deviation of the distribution is 2.5 pounds. If a sample of 55 families is randomly selected, find the probabilit..

  Confidence interval for the difference in mean delay

Statistics journals. When a professional statistician has information to share with colleagues, he or she will submit an article to one of several Statistics.

  Independent variables and longevity

Using the SPSS, calculate a simultaneous multiple regression with SES, age, and optimism as the independent variables and longevity as the dependent variable.

  Use a two-tailed test with alpha 005 to determine whether

a new over-the -counter cold medication includes a warning label stating that it may cause drowsiness. a researcher

  For each of the following scenarios indicate which type of

for each of the following scenarios indicate which type of statistical error could have been made and where additional

  How many times larger than 1/4x is 5x

The probability that Robin Hood hits a target is 5/6. The probability that Little John hits a target is 1/7. If Robin Hood and Little John each shoot one arrow at the target, what is the probability that they both miss?

  Determine the equation of the line

You are estimating the cost ($K) of optical sensors based on the power output of the sensor. Using the preliminary calculations from a data set of 8 sensors, determine the equation of the line. (Round your intermediate calculations to 3 decimal pl..

  Statistical interpretation on junk food

Support colour-coding on packaged food to indicate healthier options

  Correlation analysis-student success and family income

A sociologist claims that the success of students in college (measured by their GPA) is related to their family's income. For a sample of 20 students, the coefficient of correlation is 0.40. Using the 0.01 significance level

  Record the six individual measurements separately

Record the six individual measurements separately for each sample in a table. They will be used for subsequent problems.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd