Answer:
The expected payout of the game is $230.46.
Step-by-step explanation:
The given table is
Payout Amount : $160 $4400 $145000
Probability : 0.146 0.024 0.0007
We need to find the expected payout of the game.
The formula for expected payout is
where, n is amount and P(x) is probability of that event. The value of n is negative for loss.
Using the above formula we get
Therefore the expected payout of the game is $230.46.
Answer:
The 10% condition would not apply here
Explanation:
The 10% condition is the recommended size of sample from the population to get a non biased result. The 10% condition requires that the sample be not more than 10% of the population.
Tossing a coin is an example of a Bernoulli trial. A Bernoulli trial is one that has two possible outcomes, this face of the coin or the other face of the coin. The 10% condition does not apply to Bernoulli trials that are independent events.
Therefore the 10% condition would not apply here because tossing a coin is an an independent event. An independent event is one with replacement.
Answer:
7:11
Step-by-step explanation:
There is no way to simplify the ratio.
Answer:
<em>If more than 134 articles are produced and sold, the firm will have positive profits and shoule start production</em>
Step-by-step explanation:
Cost, Revenue, and Profit Function
The cost function C(x) is given by
where x is the number of produced products.
The revenue function is
With both equations, we can know the profit function as
For the firm to have positive profits, it has to produce x articles with the condition
Or, equivalently
Solving for x
Thus
This means that if more than 134 articles are produced and sold, the firm will have positive profits and shoule start production
Answer:
I found two different solutions. Hope one of them help!
1. x = -1/3 = -0.333
2. x = 5/2 = 2.500
Step-by-step explanation:
13 ± √ 289
x = ——————
12
Can √ 289 be simplified ?
Yes! The prime factorization of 289 is
17•17
To be able to remove something from under the radical, there have to be 2 instances of it (because we are taking a square i.e. second root).
√ 289 = √ 17•17 =
± 17 • √ 1 =
± 17
So now we are looking at:
x = ( 13 ± 17) / 12
Two real solutions:
x =(13+√289)/12=(13+17)/12= 2.500
or
x =(13-√289)/12=(13-17)/12= -0.333
Two solutions were found :
x = -1/3 = -0.333
x = 5/2 = 2.500
