Answer:
On average the carnival gain on each play
= 0.04 dollars
Step-by-step explanation:
Given that a pond contains 100 fish: 78 purple, 21 blue, and 1 silver.
Fish Purple Blue Silver total
Frequency 78 21 1 100
Prob 0.78 0.21 0.01 1
Revenue 0.4 0.8 13
game fee 0.65 0.65 0.65
Net revenue -0.25 0.15 12.35
Net Rev*Prob -0.195 0.0315 0.1235 -0.04
Thus we get per player expected net revenue is -0.04
This would be gain for Carnival
Hence On average the carnival gain on each play
= 0.04 dollars
Define the population, decide on the sample size (aka what percentage of that population)
Answer:
Step-by-step explanation:
The graph you see there is called a parabola. The general equation for the graph is as below
To find the equation we need to find the constants a and b. The constant b is just how much we're lifting the parabola by. Notice it's lifted by 1 on the y axis.
To find a it's a little more tricky. Let's use the graph to find a value for a by plugging in values we know. We know that b is 1 from the previous step, and we know that when x=1, y=3. Let's use that!
Awesome, we've found both values. And we can write the result.
I'll include a plotted graph with our equation just so you can verify it is indeed the same.