You are painting the outside of a 28 foot fence that goes around a square garden there are four equal sections you have painted
1 answer:
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Answer:
The expected value of profit is -0.5125. This is expected loss as value is negative.
Step-by-step explanation:
We are given the following in the question:
P(winning) = 0.075
Thus,
P(Loosing) =
If we win we gain a profit of $5.50 and if we loose the lottery, we loose $1.
Thus, we can form the probability distribution in the following manner:
Event: Winning Loosing
Profit(x): +5.50 -1
P(x): 0.075 0.925
We have to calculate the expected value of the profit.
Thus, the expected value of profit is -0.5125. This is expected loss as value is negative.
Answer:
represents the sample proportion of the population
Step-by-step explanation:
From the question we are told that
The sample size is n = 947
The proportion of the population that believes that the Yankees will miss the playoffs this year is
From the question we are told the confidence level is 97%
The lower limit of the confidence level is a = 28%
The upper limit of the b = 42%
Generally the sample proportion of this population is mathematically represented as
=>
=>
Hence represents the sample proportion