To calculate expected value,
We can add up the probability of all possible events.
The 2 possible events are either winning $50 or losing the prize, which is $ - 50
Expected value =
50 x 40 % + (-50) x 60%
= $-10
So the answer is $-10
Answer:
Provided that the sample size, n, is sufficiently large (greater than 30), the distribution of sample means selected from a population will have a normal distribution, according to the Central Limit Theorem.
Explanation:
1. As n increases, the sample mean approaches the population mean
(The Law of Large numbers)
2. The standard error of the sample is
σ/√n
where σ = population standard deviation.
As n increases, the standard error decreases, which means that the error
between the sample and population means decreases.
The answer 1500 hope it helped
I'm not sure, but the average time can be 1/250 seconds.
Amount earned by Sharon per item sold = $25
Base salary of Sharon per week = $100
Amount that needs to be earned by Sharon per week = $700
Let us assume the number of items sold by Sharon per week = x
Then
100 + 25x = 700
25x = 700 - 100
25x = 600
x = 600/25
= 24
So Sharon needs to sell 24 items to earn a total of $700 per week. I hope you have understood the method of solving such problems.
