I need to know what’s the answer.
1 answer:
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Answer:
0.278
Step-by-step explanation:
Given that Nuri joins a game for a car. The rule is that Nuri pick one key from box either A, B, or C. A box has two keys but only one can be used. B box has three keys but only one can be used. C box has two keys but none of them can be used.
Each box is equally likely to be selected.
In other words
If A is selected then probability of winning is using the correct key out of two keys i.e. 0.5
If B is selected then probability of winning is using the correct key out of three keys i.e. 0.333
If c is selected then probability of winning is using the correct key out of two keys i.e. 0.00
So the probability that Nuri can win the car
=
Answer:
Step-by-step explanation:
Hello!
a)
The variable of interest is
X: monetary value of a grab bag. ($)
The possible values this variable can take are:
X: 15; 40; 60; 120
To calculate the relative frequency of each possible value of the variable you have to divide the number of times this value is observed by the total of observations (sample size)
There where a total of 300 bags created, from these, 40 cost $40, 20 cost $60, 1 cost $120, and the rest have a monetary value of $15.
There are then 300- (40+20+1)= 239 bags with a monetary value of $15
The frequencies for each value of X are:
X= 15 ⇒ p(X)= 239/300= 0.797
X= 40 ⇒ p(X)= 40/300= 0.133
X= 60 ⇒ p(X)= 20/300=0.067
X= 120⇒ p(X)= 1/300= 0.003
The probability distribution for X is:
Xi: 15; 40; 60; 120
p(Xi):0.797; 0.133; 0.067; 0.003
∑p(Xi)= 0.797+0.133+0.067+0.003=1
b)
To calculate the mean you have to use the following formula:
E(X)= ∑Xp(X)= 15*0.797+40*0.133+60*0.067+120*0.003= 21.655≅ $21.7
c)
The standard deviation is the square root of the variance:
Variance:
V(X)= ∑X²p(X)-(∑Xp(X))²= 676.525 - (21.655)²= 207.585
∑X²p(X)= 15²*0.797+40²*0.133+60²*0.067+120²*0.003= 676.525
Standard deviation:
√V(X)= √207.585= $14.407= $14.41
d)
Considered the probability distribution, it is more likely to buy a $15 worth bag than any of the others, it is therefore not worthwhile to spend $20 in a bag full of merchandise worth $15.
I hope this helps!
