18/38 - 47% chance of success
$1 to $100 - $10 to spend

With this given information, their is two routes to take, play it safe, or defy the odds. Though, a 47% chance isn’t far from 50/50, and at the end of the day, it is only $10 to lose. Therefore, in my opinion, even with the expected value, I would say to bet all the money at once, since the goal is to leave with $20.

5 0

4 years ago

Let X be the number of accidents per week at the Hillsborough Street roundabout by the NCSU Bell Tower. Assume X varies with mea

Eduardwww [97]

Answer:

1) 0.1587 = 15.15% probability that x is less than 2

2) 7.64% probability that there are fewer than 100 accidents at the roundabout in a year

Step-by-step explanation:

To solve this question, we need to understand the normal probability distribution and the Central limit theorem.

Normal probability distribution

Problems of normally distributed samples are solved using the z-score formula.

In a set with mean $\mu$ and standard deviation $\sigma$ , the zscore of a measure X is given by:

$Z = \frac{X - \mu}{\sigma}$

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.

Central Limit Theorem

The Central Limit Theorem estabilishes that, for a normally distributed random variable X, with mean $\mu$ and standard deviation $\sigma$ , the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean $\mu$ and standard deviation $s = \frac{\sigma}{\sqrt{n}}$ .