Statistics and ProbabilityMean and Variance of Random Variable / Normal Random Variable2. VARIANCE AND STANDARD DEVIATION OF DISCRETE RANDOM VARIABLEFind the Variance and Standard Deviation of the following.Rafael plays a gambling game where it is possible to lose $2.00, break even, win $4.00, orwin $15.00 each time he plays. The probability distribution for each outcome is provided bythe following table:a.$0.000.40Outcome-$2.00$4.00 $15.00Probability0.300.200.10b. Suppose that the casino decides that the game does not have an impressive enough top prizewith the lower payouts, and decides to double all of the prizes, as follows:OutcomeProbability-$5.00 -$1.000.35$6.00 $10.0O0.250.250.15c. As in the case of the mean, consider the gambling game in which the casino chooses to lowereach payout by $1.00, then double each prize. The resulting distribution is the following:-$6.00 -$3.00 $6.00 $12.000.30OutcomeProbability0.400.200.10SHSO09

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Description: Statistics and ProbabilityMean and Variance of Random Variable / Normal Random Variable2. VARIANCE AND STANDARD DEVIATION OF DISCRETE RANDOM VARIABLEFind the Variance and Standard Deviation of the following.Rafael plays a gambling game where it is p

Given : a. Outcome Probability -$2.00 0.3 $0.00 0.4 $4.00 0.2 $15.00 0.1 b.…

Math

Statistics

Find the Variance and Standard Deviation of the a. Rafael plays a gambling game where it is possible to lose $2.00, break even, win $4.00, or win $15.00 each time he plays. The probability distribution for each outcome is provided by the following table: $4.00 $15.0O -$2.00 0.30 $0.00 0.40 Outcome 0.20 0.10 Probability b. Suppose that the casino decides that the game does not have an impressive enough top prize with the lower payouts, and decides to double all of the prizes, as follows: Outcome -$5.00 -$1.00 $6.00 $10.0O Probability 0.25 0.35 0.25 0.15 As in the case of the mean, consider the gambling game in which the casino chooses to lower each payout by $1.00, then double each prize. The resulting distribution is the following: -$6.00 -$3.00 $6.00 $12.00 0.20 Outcome Prohability 0.30 0.40 0.10

Find the Variance and Standard Deviation of the a. Rafael plays a gambling game where it is possible to lose $2.00, break even, win $4.00, or win $15.00 each time he plays. The probability distribution for each outcome is provided by the following table: $4.00 $15.0O -$2.00 0.30 $0.00 0.40 Outcome 0.20 0.10 Probability b. Suppose that the casino decides that the game does not have an impressive enough top prize with the lower payouts, and decides to double all of the prizes, as follows: Outcome -$5.00 -$1.00 $6.00 $10.0O Probability 0.25 0.35 0.25 0.15 As in the case of the mean, consider the gambling game in which the casino chooses to lower each payout by $1.00, then double each prize. The resulting distribution is the following: -$6.00 -$3.00 $6.00 $12.00 0.20 Outcome Prohability 0.30 0.40 0.10

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

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Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

Topic Video

Question

Statistics and Probability
Mean and Variance of Random Variable / Normal Random Variable
2. VARIANCE AND STANDARD DEVIATION OF DISCRETE RANDOM VARIABLE
Find the Variance and Standard Deviation of the following.
Rafael plays a gambling game where it is possible to lose $2.00, break even, win $4.00, or
win $15.00 each time he plays. The probability distribution for each outcome is provided by
the following table:
a.
$0.00
0.40
Outcome
-$2.00
$4.00 $15.00
Probability
0.30
0.20
0.10
b. Suppose that the casino decides that the game does not have an impressive enough top prize
with the lower payouts, and decides to double all of the prizes, as follows:
Outcome
Probability
-$5.00 -$1.00
0.35
$6.00 $10.0O
0.25
0.25
0.15
c. As in the case of the mean, consider the gambling game in which the casino chooses to lower
each payout by $1.00, then double each prize. The resulting distribution is the following:
-$6.00 -$3.00 $6.00 $12.00
0.30
Outcome
Probability
0.40
0.20
0.10
SHSO09

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