What is an open line of credit?
1 answer:
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Answer:
In order to calculate the expected value we can use the following formula:
And if we use the values obtained we got:
Step-by-step explanation:
Let X the random variable that represent the number of admisions at the universit, and we have this probability distribution given:
X 1060 1400 1620
P(X) 0.5 0.1 0.4
In statistics and probability analysis, the expected value "is calculated by multiplying each of the possible outcomes by the likelihood each outcome will occur and then summing all of those values".
The variance of a random variable Var(X) is the expected value of the squared deviation from the mean of X, E(X).
And the standard deviation of a random variable X is just the square root of the variance.
In order to calculate the expected value we can use the following formula:
And if we use the values obtained we got:
<u>Answer</u>
<u>Detailed Explanation </u>
To simply answer this, since .189 has three digits we are going to be inserting 999 as the denominator since it is a repeating decimal.
We could simplify the answer!
Therefore, the answer would simply be
<u>Always Remember </u>
In the future, always remember whenever you have a three digit decimal and the problem asks you to convert it into a fraction, you should always insert 1000 as the denominator (the numerator is basically the decimal without the decimal point) and simplify if necessary.