Gints
1 answer:
Answer:
The correct statements are: B and D.
Step-by-step explanation:
Standard deviation is one of the measure of dispersion or spread of a dataset from the average value of the dataset. The standard deviation measures the variability of the distribution of values.
The higher the spread or variability in the data set, the greater is the standard deviation value and thus greater will be the magnitude of the deviance of the value from their average.
Then the standard deviation (S.D.) is given by,
The correct statements are:
B. It is a measure of variability.
D. It is calculated using the mean.
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Answer:
E(Y) = $0.5
Var(Y) = 14.25
you should pay the same amount $0.5
Step-by-step explanation:
E(Y) = = Σ(YP)
P = probability of each outcomes.
Var(Y) = Σp − (μ x μ)
E(Y) = (2 x 0.25) +(6 x 0.25) + (0.5 x (-3)) = $0.5
Var(Y) = (x 0.25) + (
x 0.25) +(
x 0.5) - (
)
= 14.5 - 0.25
Var(Y) = 14.25
for the difference between the payoff and cost of playing to have mean 0, you should pay the same amount $0.5