Please help! Will give brainliest
1 answer:
You might be interested in
Answer:
The 99% confidence interval is
Step-by-step explanation:
From the question we are told that
The sample size is n = 100
The sample mean is
The population standard deviation is
From the question we are told the confidence level is 99% , hence the level of significance is
=>
Generally from the normal distribution table the critical value of is
Generally the margin of error is mathematically represented as
=>
Generally 95% confidence interval is mathematically represented as
=>
=>
Answer:
The expected value of the safe bet equal $0
Step-by-step explanation:
If
is a finite numeric sample space and
for k=1, 2,..., n
is its probability distribution, then the expected value of the distribution is defined as
What is the expected value of the safe bet?
In the safe bet we have only two possible outcomes: head or tail. Woodrow wins $100 with head and “wins” $-100 with tail So the sample space of incomes in one bet is
S = {100,-100}
Since the coin is supposed to be fair,
P(X=100)=0.5
P(X=-100)=0.5
and the expected value is
E(X) = 100*0.5 - 100*0.5 = 0