Josie is looking at buying a new phone for $800.If she does not want to pay the entire $800 she has the option of buying the pho
ne for a $150 deposit and making 12 monthly payments of $75 each. If Josie chooses the payment plan what will be the percent increase on the original cost of the phone?
1 answer:
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Answer:
a)
And replacing we got:
b)
And then the expected value would be:
Step-by-step explanation:
We assume the following distribution given:
Y 0 1 2 3
P(Y) 0.60 0.25 0.10 0.05
Part a
We can find the expected value with this formula:
And replacing we got:
Part b
If we want to find the expected value of we need to find the expected value of Y^2 and we have:
And replacing we got:
And then the expected value would be: