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2 answers:
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Answer:
a). The mean = 1000
The variance = 999,000
The standard deviation = 999.4999
b). 1000 times , loss
Step-by-step explanation:
The mean of geometric distribution is given as ,
And the variance is given by,
Given :
= 0.001
The formulae of mean and variance are :
a). Mean =
=
= 1000
Variance =
=
= 999,000
The standard deviation is determined by the root of the variance.
= = 999.4999
b). We expect to have play lottery 1000 times to win, because the mean in part (a) is 1000.
When we win the profit is 500 - 1 = 499
When we lose, the profit is -1
Expected value of the mean μ is the summation of a product of each of the possibility x with the probability P(x).
= $ 0.50
Since the answer is negative, we are expected to make a loss.
Answer:
x = -0.17 and x = -5.83
Step-by-step explanation:
We are asked to solve the quadratic equation
We use the quadratic formula using a = 1, b = 6 and c = 1
for a general quadratic equation of the form:
Then, the solutions are given by;
which produces the two following answers (rounded to two decimals):
x = -0.17 and x = -5.83