Statistics 7.2
Suppose a basketball player has made 240240 out of 312312 free throws. If the player makes the next 22 free throws, I will pay you $8$. Otherwise you pay me $9. Step 1 of 2 : Find the expected value of the proposition. Round your answer to two decimal places. Losses must be expressed as negative values.
1.06 first find your P(X=x) with the given info out of 2 shots he has to make it and he has a record of 240/312 so to make $8 the formula is (240/312)*(240*312) so it will look like x is 8, P(X=x) is .591716 x is 9, P(X=x) is .408284 so for our E(X) it will be =SUMPRODUCT(allofx,allofP(X=x))
Find the expected E(X) of the following data. round your answer to one decimal place. x is -1, P(X=x) is 0.2 x is 0, P(X=x) is 0.1 x is 1, P(X=x) is 0.2 x is 2, P(X=x) is 0.2 x is 3, P(X=x) is 0.3
1.3 =SUMPRODUCT(allofx,allofP(X=x))
Consider the following data: x is 3, P(X=x) is 0.2 x is 4, P(X=x) is 0.1 x is 5, P(X=x) is 0.2 x is 6, P(X=x) is 0.2 x is 7, P(X=x) is 0.3 Find the standard deviation. Round your answer to one decimal place.
1.5 square root the variance so in excel youll put =SQRT(V(X))
Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are diamonds, your friend will pay you $810. Otherwise, you have to pay your friend $49. Step 1 of 2 : What is the expected value of your bet? Round your answer to two decimal places. Losses must be expressed as negative values.
1.53 put all your numbers into excel, then find the probability youll pull it out. then find the rest by =1-(x) then find your expected value by =SUMPRODUCT(A1:A2,B1:B2)
Suppose that you and a friend are playing cards and you decide to make a friendly wager. The bet is that you will draw two cards without replacement from a standard deck. If both cards are diamonds, your friend will pay you $810. Otherwise, you have to pay your friend $49. Step 2 of 2 : If this same bet is made 914 times, how much would you expect to win or lose? Round your answer to two decimal places. Losses must be expressed as negative values.
1397.88 once you have your E(X) youll times it by 914 times to get your answer
Consider the following data: x is 3, P(X=x) is 0.2 x is 4, P(X=x) is 0.1 x is 5, P(X=x) is 0.2 x is 6, P(X=x) is 0.2 x is 7, P(X=x) is 0.3 Find the Variance. Round your answer to one decimal place
2.2 =SUMPRODUCT(X,X,P(X-x))-E(X)*E(X) =SUMPRODUCT(B1:F1, B1:F1, B2:F2)-B4*B4 for my example in excel
Consider the following data: x is 3, P(X=x) is 0.2 x is 4, P(X=x) is 0.1 x is 5, P(X=x) is 0.2 x is 6, P(X=x) is 0.2 x is 7, P(X=x) is 0.3 Find the expected value E(X), round your answer to one decimal place
5.3 copy your data and place it into excel then do =SUMPRODUCT(theXs,theP(X=x)) then hit enter
Suppose a basketball player has made 240 out of 312 free throws. If the player makes the next 2 free throws, I will pay you $8. Otherwise you pay me $9. Step 2 of 2 : If you played this game 711 times how much would you expect to win or lose? Round your answer to two decimal places. Losses must be expressed as negative values. E(X) is 1.06
753.66 711*1.06
If you throw exactly two heads in two tosses of a coin you win $29$29. If not, you pay me $13$13. Step 1 of 2 : Find the expected value of the proposition. Round your answer to two decimal places. Losses must be expressed as negative values.
-2.5 x is 29, P(X=x) is .25 x is -13, P(X=x) is .75 in excel put =SUMPRODUCT(allofx,allofP(X=x)) to get your E(X)
If you throw exactly two heads in two tosses of a coin you win $29$29. If not, you pay me $13$13. Step 2 of 2 : If you played this game 921921 times how much would you expect to win or lose? Round your answer to two decimal places. Losses must be expressed as negative values. Your E(X) is -2.5
-2302.50 =921*-2.5
Consider the following data: x is 3, P(X=x) is 0.2 x is 4, P(X=x) is 0.1 x is 5, P(X=x) is 0.2 x is 6, P(X=x) is 0.2 x is 7, P(X=x) is 0.3 Find the value of P(X>6). Round your answer to one decimal place.
.3 since the only x they give us thats greater than 6 is 7 we only have to add .3 to nothing so the answer is just that
Consider the following data: x is 3, P(X=x) is 0.2 x is 4, P(X=x) is 0.1 x is 5, P(X=x) is 0.2 x is 6, P(X=x) is 0.2 x is 7, P(X=x) is 0.3 Find the value of P(X≤5). Round your answer to one decimal place.
.5 the P(X=x) variables that are less than or equal to is x is 3, P(X=x) is 0.2 x is 4, P(X=x) is 0.1 x is 5, P(X=x) is 0.2 so we add .2+.1+.2 to get .5
which plan has the least amount of risk? Plan A Payout P( Payout ) $30000 0.11 $35000 0.49 $80000 0.4 Plan B Payout P( Payout ) $5000 0.67 $70000 0.14 $85000 0.19
Plan A find the standard deviation for both of them. first find the E(X) for both, then variance by +SUMPRODUCT(x,x,P(X=x))-E(X)*E(X) then square root that by =SQRT(V(X)) then decide between the two which is the lowest of the two
Determine whether or not the distribution is a discrete probability distribution and select the reason why or why not. x is -3, P(X=x) is 0.19 x is 4 , P(X=x) is 0.3 x is 7, P(X=x) is 0.51 First, decide whether the distribution is a discrete probability distribution, then select the reason for making this decision. Decide: YES or NO Reason: - Since the probabilities lie inclusively between 0 and 1 and the sum of probabilities is equal to 1 - since at least one of the probability values is greater than 1 or less than 0 - since the sum of the probabilities is not equal to 1 - since the sum of the probabilities is equal to 1 - since the probabilities lie inclusively between 0 and 1
add all the probabilities and they give you one so your answer will be YES - Since the probabilities lie inclusively between 0 and 1 and the sum of probabilities is equal to 1
Determine whether or not the distribution is a discrete probability distribution and select the reason why or why not. x is -3, P(X=x) is 0.26 x is 1 , P(X=x) is 0.51 x is 0, P(X=x) is 0.13 First, decide whether the distribution is a discrete probability distribution, then select the reason for making this decision. Decide: YES or NO Reason: - Since the probabilities lie inclusively between 0 and 1 and the sum of probabilities is equal to 1 - since at least one of the probability values is greater than 1 or less than 0 - since the sum of the probabilities is not equal to 1 - since the sum of the probabilities is equal to 1 - since the probabilities lie inclusively between 0 and 1
add all the probabilities up and they equal .9 so the answer is NO - Since the sum of the probabilities is not equal to 1
Determine whether or not the distribution is a discrete probability distribution and select the reason why or why not. x is -2, P(X=x) is 3/8 x is 4, P(X=x) is 1/3 x is 8, P(X=x) is 3/4 First, decide whether the distribution is a discrete probability distribution, then select the reason for making this decision. Decide: YES or NO Reason: - Since the probabilities lie inclusively between 0 and 1 and the sum of probabilities is equal to 1 - since at least one of the probability values is greater than 1 or less than 0 - since the sum of the probabilities is not equal to 1 - since the sum of the probabilities is equal to 1 - since the probabilities lie inclusively between 0 and 1
since adding all the probabilities equals 1.458 the answer would be NO - Since the sum of the probabilities is not equal to 1
