The original price of a picnic table is $77.80 the sale is 40% off. What is the sale price?
1 answer:
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Answer:
The expected value of the game to the player is -$0.2105 and the expected loss if played the game 1000 times is -$210.5.
Step-by-step explanation:
Consider the provided information.
It is given that if ball lands on 29 players will get $140 otherwise casino will takes $4.
The probability of winning is 1/38. So, the probability of loss is 37/38.
Now, find the expected value of the game to the player as shown:
Hence, the expected value of the game to the player is -$0.2105.
Now find the expect to loss if played the game 1000 times.
1000×(-$0.2105)=-$210.5
Therefore, the expected loss if played the game 1000 times is -$210.5.
Answer: The probability of this ocurring by chance is less than 0.01.
The meaning of the significance level is that it tells that there is difference of 1% level when there is no actual difference.
Step-by-step explanation:
Since we have given that
Number of times a coin tossed = 500
Number of times head occurs = 416
So, our Z-score would be
So, At significance level of 0.01, p-value of Z-score is .202704.
and p-value < 0.01, i.e. 0.202704<0.832.
Hence, the probability of this ocurring by chance is less than 0.01.
The meaning of the significance level is that it tells that there is difference of 1% level when there is no actual difference.