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GarryVolchara [31]
3 years ago
13

A roulette wheel in a casino has 38 slots. If you bet a dollar on a particular​ number, you'll win ​$30 if the ball ends up in t

hat slot and​ $0 otherwise. Roulette wheels are calibrated so that each outcome is equally likely.
Business
1 answer:
Elan Coil [88]3 years ago
3 0

Answer:

a) X=0 P(0)=0.9737

X=30 P(30)=0.0263

b) Mean: 0.789

SD: 4.801

c) P(X>1)=0.072

Explanation:

<em>The question is incomplete:</em>

<em>a) Let denote X your winnings when you play once. State the probability distribution of X.</em>

<em />

<em>b) You decide to play once a minute for a total of 1050 times. Find the mean and standard deviation.</em>

<em />

<em>c) Refer to (b). Using the Central Limit Theorem, find the probability that with this amount of roulette playing, your mean winnings is at least $1 (so, you don't lose money).</em>

<em />

a) X has only two possible states: "0" and "30". The probability distribution for x is:

X=0 P(0)=37/38=0.9737

X=30 P(30)=1/38=0.0263

b) First, we calculate the mean and standard deviation of the population as:

\mu=30*0.0263+0*0.9737=0.789\\\\\sigma=\sqrt{0.0263(30-0.798)^2+0.9737*(0-0.798)^2}=\sqrt{0.0263*852.76+0.9737*0.64}\\\\\sigma=\sqrt{23.05} =4.801

Then, the sampling distribution has these mean and standard deviation:

\mu_s=\mu=0.789\\\\\sigma_s=\sigma/\sqrt{n}=4.801/\sqrt{1050}=4.801/32.404=0.148

c) If we use the CLT, we can approximate this binomial distribution with a normal distribution to facilitate the calculations.

To calculate the probabilities of a outcome that is equal or bigger than $1, we first calculate the z-value:

z=(x-\mu_s)/\sigma_s=(1-0.789)/0.148=0.211/0.148=1.426\\\\P(X>1)=P(z>1.426)=0.072

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natita [175]

Answer:

Britt is a Financial Manager.

Explanation:

A finanacial manager in a company is a person that is responsible for the financial health or well-being of a company. As the financial manager, the roles to be played includes; making financial reports, directly investing company funds, devloping plans/ strategies for the company's long term growth or development through fund raisers or bonds or any means seen fit.

Cheers.

5 0
3 years ago
Melanie is working in a laboratory and spills a bottle of reagent which sources would most likely tell her how to clean the spil
I am Lyosha [343]
<span>The lab teacher would be one resource that could be asked, since they are likely experienced in the use and disposal of the reagent. Also, in other instances, the Material Safety Data Sheets could be accessed, since they will have all the steps required for handling, disposal, and cleaning of the reagent, and any hazards that need to be accounted for in the cleaning-up process.</span>
7 0
3 years ago
Jeff, a local traffic​ engineer, has designed a new pedestrian foot bridge that is capable of handling the current traffic rate
Delicious77 [7]

Answer:

a. How long will the current bridge system work before a new bracing system is​ required?: 64.18 years or 64 years and 2 months.

b. What if the annual traffic rate increases at 8 ​% ​annually: The bracing system will last for 24.65 years or 24 years and 7 months.

c. At what traffic increase rate will the current system last only 12 ​years: 17.13%

Explanation:

a. Denote x is the time taken for the number of pedestrian to grow from 300 to 2000. The current pedestrian is 300, the grow rate per year is 3% or 1.03 times a year. Thus, to reach 2,000, we have the equation: 300 x 1.03^x = 2000. Show the equate, we have 1.03^x = 6.67 <=> x = 64.18

b.  Denote x is the time taken for the number of pedestrian to grow from 300 to 2000. The current pedestrian is 300, the grow rate per year is 8% or 1.08 times a year. Thus, to reach 2,000, we have the equation: 300 x 1.08^x = 2000. Show the equate, we have 1.08^x = 6.67 <=> x = 24.65.

c. Denote x as traffic increase rate. The current pedestrian is 300, the grow rate per year is (1+x) times a year. Thus, to reach 2,000 after 12 years and thus a new bracing system to be in place, we have the equation: 300 x (1+x)^12 = 2000. Show the equate, we have (1+x)^12 = 6.67 <=> 1+x = 1.1713 <=> x = 17.13%.

8 0
3 years ago
Snoopy, Inc. records its bad debt expense on the credit sales method. Total sales during 2020 were $1,500,000, which consisted o
quester [9]

Answer:

the amount of bad debt expense for the year 2020 is $36,000

Explanation:

The computation of the amount of bad debt expense is shown below:

= Estimation of 3% net sales that would be uncollectible

= 3% of ($1,500,000 - $300,000)

= 3% of $1,200,000

= $36,000

Hence, the amount of bad debt expense for the year 2020 is $36,000

The same is to be considered

6 0
2 years ago
Consider the following costs incurred in a recent period:Direct Materials $33,000Depreciation on Factory Equipment $12,000Factor
asambeis [7]

Answer:

$37,000

Explanation:

The following costs were incurred in a recent period

Direct Materials $33,000

Depreciation on Factory Equipment $12,000

Factory Janitor's Salary $23,000

Direct Labor $28,000

Utilities for Factory $9,000

Selling Expenses $16,000

Production Supervisor's Salary $34,000

Administrative Expenses $21,000

Therefore, the total amount of period cost can be calculated as follows

Total amount of period costs = Selling expenses + administrative expenses

= $16,000 + $21,000

= $37,000

Hence the total amount of period costs for the above period is $37,000

4 0
3 years ago
Read 2 more answers
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