User Account

All Pages

Probability of drawing tickets with numbers

Assignment Help Basic Statistics
Reference no: EM131810196

Question: A game consists of drawing tickets with numbers on them from a box, independently with replacement. In order to play you have to stake $2 each time you draw a ticket, your net gain is the number on the ticket you draw, suppose there are 4 tickets in the box with numbers -2, - 0, 3 on them. If, for example the ticket show $3 then you get your stake back, plus an additional $3.

a) Let X stand for your net gain in one game. What is the distribution of X? Find E(X) and Vαr(X).

b) If you play 100 times, what is your chance of winning $25 of more?

Reference no: EM131810196

Questions Cloud

State government that mandates the use of benefit : This comparison is being made for a state government that mandates the use of benefit/cost criteria at an interest rate of 8%. Which ratio
Calculate appropriate benefit-cost ratios : Calculate appropriate benefit/cost ratios and recommend an alternative. Travel time is a disband fit. The alternatives are far (F), middle (M), and near (N).
Prepare consolidated financial statements for the year ended : Required: Complete the following worksheet for consolidated financial statements for the year ended December 31, 20X8
Year for street cleaning : A road costs $450,000 to build and $12,000 per year for street cleaning. The road is re-striped every 2 years for $28,000 and repaved every
Probability of drawing tickets with numbers : A game consists of drawing tickets with numbers on them from a box, independently with replacement. In order to play you have to stake $2 each time.
State department of interior : The state Department of Interior (DOI) must ensure the continued quality of the environment. The state Budget Department has informed the DOI
Develop an equation for utility costs in the form y : Using the high/low method, develop an equation for utility costs in the form Y = a +bX
What is the implied interest rate for postponing the bike : The expected cost of doing it then is $68,000. What is the implied interest rate for postponing the bike path?
Implied interest rate for forgoing the repairs : The building will cost $2.8M to replace. Determine the implied interest rate for forgoing the repairs.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

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