5. Five hundred tickets will be sold and these will be raffled during the town fiesta. One of these tickets will win P3000 and the rest will win nothing. What will be the expected outcome and variance of your gain if you will buy one of the tickets? 6. Astrid tosses an unbiased coin. On each toss, she wins P50 if a head appears, and loses P40 if a tail appears. What will be the expected value and variance of her gain?

5. Five hundred tickets will be sold and these will be raffled during the town fiesta. One of these tickets will win P3000 and the rest will win nothing. What will be the expected outcome and variance of your gain if you will buy one of the tickets? 6. Astrid tosses an unbiased coin. On each toss, she wins P50 if a head appears, and loses P40 if a tail appears. What will be the expected value and variance of her gain?

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Similar questions

The original question had percentage not probability. So what is the percentage are between 14.7 and 52.7?
Suppose we are flipping an unfair coin until we get a head with the probability of obtaining a tail at 75%. What is the probability of obtaining a head on the third flip? Report your answer as a decimal and round to the nearest thousandth.
1) A consumer research company wants to estimate the average cost of an airline ticket for a round trip from New York to Los Angeles. A random sample of 50 airfares had an average price of $438. Identify the variable. (a) Simple random sample (c) Consumer research company (b) Airline fare (d) City e) $438
Solve the following problem and show your complete solutions. Explain your answer for better understanding.
Toss a balanced coin independently 10 times. Assume that the number of Head and the number of Tails follows Multinomial Distribution. Find the probability to obtain 3 Heads and 7 Tails. Calculate MEAN and VARIANCE.
Suppose that at a college, 55% of the students earn a degree at the end of four years and 27% earn a degree at the end of five years. What is the probability of earning a degree at the end of four or five years? Give your answer exactly as a decimal (not as a percent).
If the probability that the Islanders will beat the Rangers in a game is 81%, what is the probability that the Islanders will win at least three out of five games in a series against the Rangers? Round your answer to the nearest thousandth.
Find the variance of [6 ,7 ,10 ,11 ,12 ,13 ,16 ,18 ,25].Round off your final answer into two decimal places.
What is the variance of a set of 8 numbers: 3, 4, 5, 6, 7, 8, 9, 10?
7a. Suppose you go to Alaska in February where the chance of snow is .90 (90 percent). You are there for two days. Make the probability distribution associated with this experience. b. Find the mean, variance, and standard deviation for number 7.
Define random variations?
The weather report says that there is a 50% chance to rain tomorrow. What type of event is this?