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An individual has $ 100 initially. He repeatedly plays a game of chance in which he earns $ 100 with probability 0.8 or loses $ 100 with probability 0.2. The stops playing at the first of two possibilities: he has no more money or he has 400$.
(A) On average, how many times will heplays?
(B) What is the probability that he will end with $ 400?
(C) Calculate the expected profit. Would he have had a better expected profit if he started with $ 200?
List all possible simple random samples of size n = 2 that can be selected from the population {0, 1, 2, 3, 4}. Calculate 2 s for the population and Var y( ) for the sample.
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#This is a chance to perhaps incorporate some of your experience, interests, and career business/management goals and ambitions within the context of an individual project paper.
Just interested how indepth are the answers
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