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B. In a cricket match played to benefit an ex-player, 10,000 tickets are sold at k500. The prize is a k12,000 fridge by lottery. If a person purchases two tickets, what is his expected gain?

B. In a cricket match played to benefit an ex-player, 10,000 tickets are sold at k500. The prize is a k12,000 fridge by lottery. If a person purchases two tickets, what is his expected gain?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 10CYU
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B. In a cricket match played to benefit an ex-player, 10,000 tickets are sold at k500. The prize is a k12,000 fridge by lottery. If a person purchases two tickets, what is his expected gain? C. A market researcher at a major auto mobile company classified households by car ownership. The relative frequencies of households for each category of ownership are shown below: Number of Cars per Relative Frequency household 0 1 2 3 4 5 0.10 0.30 0.40 0.12 0.06 0.02 Calculate the expected value and standard deviation and interpret the results.
Transcribed Image Text:B. In a cricket match played to benefit an ex-player, 10,000 tickets are sold at k500. The prize is a k12,000 fridge by lottery. If a person purchases two tickets, what is his expected gain? C. A market researcher at a major auto mobile company classified households by car ownership. The relative frequencies of households for each category of ownership are shown below: Number of Cars per Relative Frequency household 0 1 2 3 4 5 0.10 0.30 0.40 0.12 0.06 0.02 Calculate the expected value and standard deviation and interpret the results.
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