Giving brainleist help pls
2 answers:
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Answer:
For many(n) tickets, the average payoff is 0.5n, in which n is the number of tickets.
Step-by-step explanation:
1/1000 chance of winning.
This means that there is an 1/1000 probability of you earning $500.
1 - 1/1000 = 999/1000 chance of losing.
In this case, you earn nothing.
What is your average payoff from many tickets
Your average payoff from a ticket is 0.5. So for many(n) tickets, the average payoff is 0.5n, in which n is the number of tickets.
Answer:
Step-by-step explanation:
Given that n =30, x bar = 375 and sigma = 81
Normal distribution is assumed and population std dev is known
Hence z critical values can be used.
For 95% Z critical=1.96
Margin of error =
Confidence interval = 375±29
=(346,404)
B) 99% confidence
Margin of error = 2.59*Std error =38
Confidence interval = 375±38
=(337, 413)
C) For 90%
Margin of error = 20
Std error = 20/1.645 = 12.158
Sample size
Atleast 44 people should be sample size.