What is the standard deviation

Assignment Help Basic Statistics
Reference no: EM131748224

Cancelled flights. Mary is deciding whether to book the cheaper flight home from college after her final exams, but she's unsure when her last exam will be. She thinks there is only a 20% chance that the exam will be scheduled after the last day she can get a seat on the cheaper flight. If it is and she has to cancel the flight, she will lose $150. If she can take the cheaper flight, she will save $100.

a) If she books the cheaper flight, what can she expect to gain, on average?

b) What is the standard deviation?

Reference no: EM131748224

Questions Cloud

Consumer organization inspecting new cars : A consumer organization inspecting new cars found that many had appearance defects (dents, scratches, paint chips, etc.). While none had more
What kinds of interrogation techniques does court outline : What kinds of interrogation techniques does the Court outline as ways to trick criminal defendants? What arguments do the justices who dissent use?
Create a probability model for the profit on a policy : a) Create a probability model for the profit on a policy. b) What's the company s expected profit on this policy?
Various components of the web of praxis model : How might the various components of the Web of Praxis model help you make sense of what happened - How might this story have unfolded differently
What is the standard deviation : a) If she books the cheaper flight, what can she expect to gain, on average? b) What is the standard deviation?
Should she buy the stock option : a) Should she buy the stock option? b) How much does she expect to gain? c) What is the standard deviation of her gain?
What fraction of cans are acceptable : If you set the mean at 12.03 ounces, and a soda can is acceptable if it contain at least 12 ounces, what fraction of cans are acceptable?
Find the probability model for x : Let random variable X be the number of games you win. Find the probability model for X.
Are the two contracts independent : If you get contract #1, the probability you also get contract #2 will be 0.2, and if you do not get #1, the probability you get #2 will be 0.3.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Southern christian leadership conference

On the other hand to what extent was he himself shaped by his supporters, his critics and broad shift in America society. How did the Southern Christian leadership conference (SCLC) change along with kings philosophy?

  Find probability that candidate will be forecast as winner

If you select a random sample of 100 voters, what is the probability that a candidate will be forecast as the winner when. The true percentage of her vote is 50.1%?

  Identify the independent variable and dependent variable

Identify the design of this experiment.- How many conditions are in the experiment?- Identify the independent variable(s) and dependent variable(s).

  Calculate the appropriate descriptive statistics

Use the IBM APA software to calculate the appropriate descriptive statistics for the variables in your assigned data

  Eleven chairs are numbered 1 through 11 four girls and

eleven chairs are numbered 1 through 11. four girls and seven boys sit on these chairs at random. what is the

  Gather a systematic sample from a local phone

You are to gather a systematic sample from a local phone book with 75,000 names. If every kth name in the phone book is to be selected, what value of k would you choose to gather a sample size of 500?

  Find a confidence interval for the given statistic

When restricted to the 239 active traders in the sample, Pew reports that 45% rely on the Internet for investment information.

  Let x and y be independent exponential random variables

let x and y be independent exponential random variables with means 2 and 3 respectively. let zxy. determine

  When circuit boards used in the manufacture of compact disc

when circuit boards used in the manufacture of compact disc players are tested the long-run percentage of defectives is

  The 70-year long-term record for weather shows that for new

the 70-year long-term record for weather shows that for new york state the annual precipitation has a mean of 39.84

  Describe the observational units in given study

Describe the observational units in this study.- Describe two variables that the researchers related to each other in Case Study.

  Key political features of the roman republic

What were the key political features of the Roman Republic? How and why did this system of government collapse? Does our republic share any of the weaknesses of the Roman Republic?

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!

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