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Question 1:
Recall the St. Petersburg game. It starts at $2. Toss a coin and if a head appears, the pot doubles. If tails appears, you win the pot at that time and the game ends. So, if you get H, H, H T, you win $16. The payoff table is,
First head on toss:
1
2
3
4
[...]
n
Payoff, x
$2
$4
$8
$16
$32
$2n
Assume that your utility function is .
Question 1A. What is the expected monetary value of the game, and what should you be willing to pay to play this game?
Question 1B. Do these values differ? If so, explain why the do.
Question 1C. What is the risk premium you are willing to pay to avoid the uncertainty of the gamble.
At the .05 significance level, can we conclude that the guideline is still reasonable?
A financial planner wants to compare the yield of income- and growth-oriented mutual funds. Fifty thousand dollars is invested in each of a sample of 35 income-oriented and 40 growth-oriented funds.
A racing car consumes a mean of 101 gallons of gas per race with a variance of 49. If 43 racing cars are randomly what is the probability that the sample mean would differ from the population mean by greater than 2.4 gallons.
1. consider the trials involved with flipping a fair coin. its reasonable to assume that coin flips are independent.
The producer of a TV special expected about 40 percent of the viewing audience to watch a rerun of a 1965 Beatles Concert. A sample of 200 homes revealed 60 to be watching the concert.
A sports enthusiast created an equation to predict Victories (the team’s number of victories in the National Basketball Association regular season play) using predictors FGP (team field goal percentage), FTP (team free throw percentage), Points = (te..
As people use the toothpaste, the amount remaining in any tube is random. Assume the amount left in the ube follows a uniform distribution. How much toothpaste would you expect to be remaining in the tube.
Find the probability that the amount of total claims over a period of 100 days is at least $150,000. (Use the fact that the sum of independent normally distributed random variables is normally distributed, with mean equal to the sum of the individ..
use a normal approximation to find the probability of the indicated number of voters. in this case assume that 145
let g be a set and let be an associative binary operation on g. assume that there exists a left identity element in g
Use a 0.05 significance level to test the claim that the sensory measurements are lower after hypnotism. Does hypnotism appear to be effective in reducing pain?
Why might supposition of normal population be doubtful? Problem arises when?
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