Homework Help is Here – Start Your Trial Now!
Math
Statistics
Basic Computation: Expected Value and Standard Deviation Consider the probability distribution shown in Problem 3(a). Compute the expected value and the standard deviation of the distribution.

Basic Computation: Expected Value and Standard Deviation Consider the probability distribution shown in Problem 3(a). Compute the expected value and the standard deviation of the distribution.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
See similar textbooks
icon
Related questions
Question
Please answer number 7. Make sure to show work!! Thx
1. Statistical Literacy Which of the following are continuous variables, and which are discrete? (a) Number of traffic fatalities per year in the state of Florida (b) Distance a golf ball travels after being hit with a driver (c) Time required to drive from home to college on any given day (d) Number of ships in Pearl Harbor on any given day (e) Your weight before breakfast each morning 2. | Statistical Literacy Which of the following are continuous variables, and which are discrete? (a) Speed of an airplane (b) Age of a college professor chosen at random (c) Number of books in the college bookstore (d) Weight of a football player chosen at random (e) Number of lightning strikes in Rocky Mountain National Park on a given day 3. | Statistical Literacy Consider each distribution. Determine if it is a valid probability distribution or not, and explain your answer. (b) (a) x 0 1 P(x) 0.25 0.60 2 0.15 12 x 0 P(x) 0.25 0.60 0.20 Statistical Literacy At State College all classes start on the hour, with the earliest start time at 7 A.M. and the latest at 8 P.M. A random sample of fresh- men showed the percentages preferring the listed start times. Start Time 7 or 8 A.M. 9,10, or 11 A.M. 12 or 1 P.M. 1 P.M. or later After 5 P.M. % preferring 10% 35% 28% 25% 15% Can this information be used to make a discrete probability distribution? Explain.
Transcribed Image Text:1. Statistical Literacy Which of the following are continuous variables, and which are discrete? (a) Number of traffic fatalities per year in the state of Florida (b) Distance a golf ball travels after being hit with a driver (c) Time required to drive from home to college on any given day (d) Number of ships in Pearl Harbor on any given day (e) Your weight before breakfast each morning 2. | Statistical Literacy Which of the following are continuous variables, and which are discrete? (a) Speed of an airplane (b) Age of a college professor chosen at random (c) Number of books in the college bookstore (d) Weight of a football player chosen at random (e) Number of lightning strikes in Rocky Mountain National Park on a given day 3. | Statistical Literacy Consider each distribution. Determine if it is a valid probability distribution or not, and explain your answer. (b) (a) x 0 1 P(x) 0.25 0.60 2 0.15 12 x 0 P(x) 0.25 0.60 0.20 Statistical Literacy At State College all classes start on the hour, with the earliest start time at 7 A.M. and the latest at 8 P.M. A random sample of fresh- men showed the percentages preferring the listed start times. Start Time 7 or 8 A.M. 9,10, or 11 A.M. 12 or 1 P.M. 1 P.M. or later After 5 P.M. % preferring 10% 35% 28% 25% 15% Can this information be used to make a discrete probability distribution? Explain.
7. Basic Computation: Expected Value and Standard Deviation Consider the probability distribution shown in Problem 3(a). Compute the expected value and the standard deviation of the distribution. 8. Basic Computation: Expected Value For a fundraiser, 1000 raffle tickets are sold and the winner is chosen at random. There is only one prize, $500 in cash. You buy one ticket. (a) What is the probability you will win the prize of $500? (b) Your expected earnings can be found by multiplying the value of the prize by the probability you will win the prize. What are your expected earnings? (c) Interpretation If a ticket costs $2, what is the difference between your "costs" and "expected earnings"? How much are you effectively contrib- uting to the fundraiser?
Transcribed Image Text:7. Basic Computation: Expected Value and Standard Deviation Consider the probability distribution shown in Problem 3(a). Compute the expected value and the standard deviation of the distribution. 8. Basic Computation: Expected Value For a fundraiser, 1000 raffle tickets are sold and the winner is chosen at random. There is only one prize, $500 in cash. You buy one ticket. (a) What is the probability you will win the prize of $500? (b) Your expected earnings can be found by multiplying the value of the prize by the probability you will win the prize. What are your expected earnings? (c) Interpretation If a ticket costs $2, what is the difference between your "costs" and "expected earnings"? How much are you effectively contrib- uting to the fundraiser?
Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS