Find the mean and standard deviation of the payout

Assignment Help Econometrics

Reference no: EM13214188

The payouts for the Powerball lottery and their corresponding odds and probabilities of occurrence are shown below. The price of a ticket is $1.00. Find the mean and standard deviation of the payout. Hint: Don't forget to include the cost of the ticket and its corresponding probability

Reference no: EM13214188

Questions Cloud

How big would the firms profit or loss be : Suppose you have been tasked with regulating a single monopoly firm that sells 50-pound bags of concrete. The firm has fixed costs of $30 million per year and a variable cost of $3 per bag no matter how many bags are produced.

Describe the large disparity in the numerical results pf : Energy costs vary greatly with energy source: coal @ $25.00/ton, gasoline @ a pump price of $2.00/gal, and electricity @ $0.1000/kWhr. Conventional practice is to put these on a common basis by expressing

How do you determine the level of the barrier : How do you determine the value of the firm and determine the volatility of the describing the change in firm value - How do you determine the level of the barrier?

Explain whether the increase would be more justified : Gina Picaretto is production manager at the Rich Manufacturing Company. Each year her unit buys up to 100,000 machine parts from Bhagat Incorpo- rated. The contract specifies that Rich will pay Bhagat its production costs plus a $5 markup (cost- p..

Find the mean and standard deviation of the payout : The payouts for the Powerball lottery and their corresponding odds and probabilities of occurrence are shown below. The price of a ticket is $1.00. Find the mean and standard deviation of the payout.

Explain what is the mass flowrate of water required to power : efficiency for conversion of potential to electrical energy, and 8% loss of the resulting power in transmission, what is the mass flowrate of water required to power a 200-watt light bulb?

What is the effect on the price level and real gdp : Starting from short-run equilibrium, the following occurs: personal income taxes rise and foreign real national income rises. What is the effect on the price level, Real GDP, and the unemployment rate in the short run

Determine the market value of the debt : What can you conclude from the above tables - determine the market value of the debt and determine the market value of the debt.

Explain the largest london forces : which of these compounds will be the most polar and which of the compound will have the largest London forces?

User Account

All Pages