20/9 is the answer that I got
Answer:
- 1800 ; 4284.8579 ;
Step-by-step explanation:
Given the table :
Outcome _____ probability
-12000 ________ 0.15
__ 0 __________ 0.85
Expected loss, m: Σx*p(x)
(-12000 * 0.15) + (0 * 0.85)
-1800 + 0 = - 1800
Standard deviation = sqrt(Var(x))
Var(x) = Σx²*p(x) - m²
(-12000^2 * 0.15) + (0^2 * 0.85)] - 1800^2
21,600,000 - 3240000
= 18360000
Standard deviation = sqrt(18360000)
Standard deviation = 4284.8579
We know, Volume of a Cone = πr² h/3
v = 3.14 * (6)² * 11.4/3
v = 3.14 * 36 * 3.8
v = 429.552
Now, for 1 m³, it costs = $20
So, for 429.552 m³, it will be: 20 * 429.552 = 8591
In short, Your Answer would be $8591
Hope this helps!
Absolute value would be x=14
