4.)A bag contain many hats of several colors. 100drawns are made from this bag withreplacement. Suppose the expected number ofred hats is 40 and the standard error is 5. What isthe chance, in percent, of drawing between 30and 50 red hats? Your answer should be a wholeinteger with no decimals.Answer to correct wording problem. Since 30and 50 is 2 standard errors(5) from 40, from theZtable gives 95%: Here's how:Z1 = (30-40)/5 = -2.0Z2 (50-40)/5 = 2.0=P(30 < x <= 50) = P(-2.0 <= z <= 2.0) = 0.9772-0.0228 = 0.9544 = 95%4) You play a game with your friend in which a dieis rolled. If any of the numbers 1,2,3 or 4 showup, your friend takes two dollars from you. Ifeither 5 or 6 show up, you take six dollars fromyour friend. If you play this game 12 times, yourexpected value for net gain isdollars.Hint: Your answer should be a whole integerwith no decimals.

Mean(μ)=40 Standard error(σ/n)=5 Sample size(n)=100

Answered: 4.) A bag contain many hats of several…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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4.) A bag contain many hats of several colors. 100 drawns are made from this bag with replacement. Suppose the expected number of red hats is 40 and the standard error is 5. What is the chance, in percent, of drawing between 30 and 50 red hats? Your answer should be a whole with no dr imala into