Step-by-step explanation:
the probability that the ticket will win you 600 dollars * 1/1500 = 600/1500.
the probability that the ticket will win you 50 dollars is 50 * 5/1500 = 250/1500.
the probability that the ticket will win you 25 dollars is 25 * 20/1500 = 500/1500.
your expected value is -1 + 600/1500 + 250/1500 + 500/1500 = -.1.
the average loss for each dollar that is bet is equal to 10 cents.
hope this helped
Answer:
0.0466
Step-by-step explanation:
For a random variable X which follows a binomial distribution:
Thus,
Answer:
With monthly compounding, the bank will calculate interest on your account just once per month. It will not update your balance on a daily basis when it calculates how much interest it owes you. Assuming that the APR is the same, accounts with monthly compounding offer a lower APY than accounts with daily compounding.
Answer:
a(9) = 150*(0.4)^8 = 0.098304
Step-by-step explanation:
This is a geometric sequence, because each new term is 0.4 times the previous term.
The general formula for a geometric sequence is a(n) = a(1)*r^(n - 1). Here, with a(1) = 150 and r = 0.4, we have:
a(n) = 150*(0.4)^(n - 1), and so
a(9) = 150*(0.4)^8 = 0.098304
