Answered

Discover the answers you need at Westonci.ca, a dynamic Q&A platform where knowledge is shared freely by a community of experts. Explore thousands of questions and answers from knowledgeable experts in various fields on our Q&A platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

On the occasion of its 10-year anniversary, AJ Inc. sells lucky draw tickets. If the customers are interested in the lucky draw contest, then they have to purchase a ticket for $15. The gift could be worth $115, $215, $315, or nothing. The probability of each event is given below. What is the value of the standard deviation

Sagot :

nuhulawal20

This question is incomplete, the complete question is;

On the occasion of its 10-year anniversary, AJ Inc. sells lucky draw tickets. If the customers are interested in the lucky draw contest, then they have to purchase a ticket for $15. The gift could be worth $115, $215, $315, or nothing. The probability of each event is given below. What is the value of the standard deviation

Probability              0.35     0.26     0.21      0.18

Amount gained     $100     $200   $300    -$15

Option;

a) $11,143

b) $106

c) $10,200

d) $147

Answer:

the standard deviation is 106

Option b) $106 is the correct Answer

Step-by-step explanation:

Given the data in the question;

let the random variable be x

x = amount gained by customers in a lucky draw contest

so

Variance (x) = [∑(x² × P(x))] - [(∑(x × P(x))²]

so

x              x²               p(x)        x.p(x)       x².p(x)

$100      10,000        0.35       35           3,500

$200     40,000       0.26       52          10,400

$300     90,000       0.21        63           18,900

-$15         225           0.18       -2.7          40.5

TOTAL                                   147.3         32,840.5

Variance (x) = [∑(x² × P(x))] - [(∑(x × P(x))²]

we substitute;

Variance (x) = 32,840.5 - (147.3)²

Variance (x) = 32,840.5 - 21,697.29

Variance (x) = 11,143.21

Now Standard Deviation = √variance

so, S.D = √11,143.21

S.D = 105.56 ≈ 106

Therefore, the standard deviation is 106

Option b) $106 is the correct Answer

Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.