Answered

Westonci.ca offers fast, accurate answers to your questions. Join our community and get the insights you need now. Get expert answers to your questions quickly and accurately from our dedicated community of professionals. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

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 :

fichoh

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
Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.