Write an equation in slope-intercept form for the line that goes through points (1.4, 0) and (1, –2).
2 answers:
You might be interested in
- Probability of drawing a red card = 26/52 = 1/2
- Probability of drawing a spade = 13/52 = 1/4
- Probability of drawing a non-ace club = 12/52 = 3/13
- Probability of drawing the ace of clubs = 1/52
Then the PMF for your winnings is
You can expect to win
or about $4.13 per game.
Recall that variance is
where
so that the variance of your winnings is
or about 29.54 "squared" dollars. Standard deviation is the square root of variance, so the standard deviation of is approximately $5.44.