Private colleges and universities rely on money contributed by individuals and corporations for their operating expenses. Much o
1 answer:
Answer:
The value will be used as the point estimate for the mean endowment of all private colleges in the United States is of 180.975 millions of dollars.
Step-by-step explanation:
When we have a sample, the mean of the sample is used as the point estimate for the mean of the entire population.
What value will be used as the point estimate for the mean endowment of all private colleges in the United States?
We have to find the mean of the 8 colleges. So
The value will be used as the point estimate for the mean endowment of all private colleges in the United States is of 180.975 millions of dollars.
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Step-by-step explanation:
- To find the E(X) expected value, you come up with the different probabilities for each outcome
- your set of outcomes after 3 tosses would be = {HHH, HHT, HTH, THH, HTT, THT, TTH, TTT} where H is heads and T is tails
- Each element has a probability of 1/8 so let x represent number of tails
- The E(x)=Summation (x times P(x))
- Now which probability is 1.5 tails? None, so it is either 2 tails or 1 tails
- So you can expect to lose money in 1 game
- But as you play more games the probability of getting 3 tails becomes more and more likely, so you can expect to win in a 100 games
Here is the answer. Hope this helps!
