Find the mean of this probability distribution. Round your answerto one decimal place.
2
| x | P(x) |
| 0 | 0.05 |
| 1 | 0.15 |
| 2 | 0.25 |
| 3 | 0.55 |
Find the standard deviation of this probability distribution. Giveyour answer to at least 2 decimal places
3
2.36 Is it worth it?: Andy is always lookingfor ways to make money fast. Lately, he has been trying to makemoney by gambling. Here is the game he is considering playing: Thegame costs $2 to play. He draws a card from a deck. If he gets anumber card (2-10), he wins nothing. For any face card ( jack,queen or king), he wins $3. For any ace, he wins $5, and he wins anextra $20 if he draws the ace of clubs. Round answers to 2 decimalplaces.
a) Andy's expected profit per game is: $
b) Would you recommend this game to Andy as a good way to makemoney? Explain.
- Yes, Andy could be lucky and might earn money in the long-runplaying this game
- No, we expect Andy to lose money each time he plays thisgame
4
2.38 Baggage fees: An airline charges thefollowing baggage fees: $25 for the first bag and an extra $35 forthe second. Suppose 54% of passengers have no checked luggage, 34%have only one piece of checked luggage and 12% have two pieces. Wesuppose a negligible portion of people check more than twobags.
a) The average baggage-related revenue per passenger is: $(please round to the nearest cent)
b) The standard deviation of baggage-related revenue is: $(please round to the nearest cent)
c) About how much revenue should the airline expect for a flight of120 passengers? $ (please round to the nearest dollar)
5
For a group of four 70-year old men, the probabilitydistribution for the number xx who live through the next year is asgiven in the table below.
| xx | P(x)P(x) |
|---|
| 0 | 0.0132 |
| 1 | 0.1030 |
| 2 | 0.3013 |
| 3 | 0.3916 |
| 4 | 0.1909 |
Verify that the table is indeed a probability distribution. Thenfind the mean of the distribution.
mean =
Report answer accurate to 1 decimal place.
6
Consider the discrete random variable XX given in the tablebelow. Calculate the mean, variance, and standard deviation ofXX.
| XX | 2 | 3 | 15 | 19 |
|---|
| P(XX) | 0.08 | 0.13 | 0.11 | 0.68 |
|---|
?? =
?2?2 =
?? =
What is the expected value of XX?
7
A bag contains 4 gold marbles, 9 silver marbles, and 24 blackmarbles. The rules of the game are as follows: You randomly selectone marble from the bag. If it is gold, you win $4, if it issilver, you win $3. If it costs $1 to play, what is your expectedprofit or loss if you play this game?
$
8
The PTO is selling raffle tickets to raise money for classroomsupplies. A raffle ticket costs $3. There is 1 winning ticket outof the 180 tickets sold. The winner gets a prize worth $76.Round your answers to the nearest cent.
What is the expected value (to you) of one raffle ticket? $
I need help with this
thanks
