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3 years ago

13

Suppose the auction house from the preceding problem sold 200 tickets at $1 each, and had 16 prizes of $10 each. What is the new

expected value?
A) $0
B) $0.2
C) –$0.2
D) $0.8

1 answer:

Brilliant_brown [7]3 years ago

4 0

200/160=1.25

200+160=360/1.25/160=200.8

so your answer is 0.8

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3 years ago

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2 years ago

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3 years ago

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Answer:

1. 0.9544

2. 0.0228

3. 0.0228

Step-by-step explanation:

The computation is shown below;

As we know that

At Normal distribution

$P(X < A) = P(Z < \frac{(A - mean)}{standard deviation})$

As per the question, the data provided is as follows

Mean = 24.4 minutes

Standard deviation = 6.5 minutes

Based on the above information

P(11.4 < X < 37.4) = P(X < 37.4) - P(X < 11.4)

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= 0.9772 - 0.0228

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2. P(X < 11.4) = 0.0228

3. P(X ≥ 37.4) = 1 - P(X < 37.4)

= 1 - 0.9772

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3 years ago