Solve the equation. x+4=−14 what does x equal
1 answer:
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Answer:
-$2.32
Step-by-step explanation:
Give that
The selling price per ticket is $9
And the number of tickets sold is 500
So,
There is one grand prize, three $300 second prize, and eleven $40 third prizes
We need to find out the expected value of the profit
= 4 + 1.8 + 0.88
= 6.68
Now the expected profit is
= $6.68 - $9
= -$2.32
Answer and Explanation:
Given : The random variable x has the following probability distribution.
To find :
a. Is this probability distribution valid? Explain and list the requirements for a valid probability distribution.
b. Calculate the expected value of x.
c. Calculate the variance of x.
d. Calculate the standard deviation of x.
Solution :
First we create the table as per requirements,
x P(x) xP(x) x² x²P(x)
0 0.25 0 0 0
1 0.20 0.20 1 0.20
2 0.15 0.3 4 0.6
3 0.30 0.9 9 2.7
4 0.10 0.4 16 1.6
∑P(x)=1 ∑xP(x)=1.8 ∑x²P(x)=5.1
a) To determine that table shows a probability distribution we add up all five probabilities if the sum is 1 then it is a valid distribution.
Yes it is a probability distribution.
b) The expected value of x is defined as
c) The variance of x is defined as
d) The standard deviation of x is defined as