Answer:
$70.20
Step-by-step explanation:
We need to first find the cost per gallon of the gas.
The person in front bought 15 gals at $40.50. The price of each gallon will therefore be:
40.50 / 15 = $2.70
You need to buy 26 gallons. The cost will be:
26 * 2.70 = $70.20
You will spend $70.20.
Answer:
E(Y) = $0.5
Var(Y) = 14.25
you should pay the same amount $0.5
Step-by-step explanation:
E(Y) = = Σ(YP)
P = probability of each outcomes.
Var(Y) = Σ
p − (μ x μ)
E(Y) = (2 x 0.25) +(6 x 0.25) + (0.5 x (-3)) = $0.5
Var(Y) = (
x 0.25) + (
x 0.25) +(
x 0.5) - (
)
= 14.5 - 0.25
Var(Y) = 14.25
for the difference between the payoff and cost of playing to have mean 0, you should pay the same amount $0.5