Answered

From simple queries to complex problems, IDNLearn.com provides reliable answers. Our experts provide accurate and detailed responses to help you navigate any topic or issue with confidence.

A roulette wheel consists of 18 red slots, 18 black slots, and 2 green slots. A player can wager $1 that a marble will land in a red slot, in which case the player would gain a $1. If the marble lands in a slot that isn't red, then the player loses their $1 wager. Let X represent the player's gain from a random $1 wager on red. Here's the probability distribution of X along with summary statistics:
Lose Win
X = gain (S) -1 1
Р(X) 20/38 18/38
Мean: Ax-$0.05
Standard deviation: ax$1.00
Suppose a player decides to wager $5 instead of winning $5.
Let Z represent the player's gain from a random $5 wager on red. possible outcomes become either losing or , so
What are the mean and standard deviation of Z? dollars?

Sagot :

Fichohidn

Answer:

-$0.26 ; $5

Step-by-step explanation:

Given that :

____________ Lose ______ Win

X =$1 _______ - $1 ________ $1

P(X) _______20/ 38 _____ 18/38

Mean, Ux = - $0.05

Standard deviation, σx = $1.00

If the wager is $5 instead of $1

Mean = Σx*p(x)

Mean = (-5 * 20/38) + (5 * 18/38)

Mean = - 2.6315789 + 2.3684210

Mean (μ) = −0.26

Standard deviation :

Sqrt(Σx²p(x) - μ²)

[(-5^2)*(20/38) + (5^2)*(18/38)] - (-0.26^2)

(13.157894 + 11.842105) - 0.0676

= 24.999999 - 0.0676

= sqrt(24.932399)

= 4.9932353

= 5

View image Fichoh
Your participation means a lot to us. Keep sharing information and solutions. This community grows thanks to the amazing contributions from members like you. Your search for solutions ends here at IDNLearn.com. Thank you for visiting, and come back soon for more helpful information.