give an example. 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. 3. | 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? 9. Critical Thinking: Simulation We can use the random-number table to simulate outcomes from a given discrete probability distribution. Jose plays basketball and has probability 0.7 of making a free-throw shot. Let x be the random variable that counts the number of successful shots out of 10 attempts. Consider the digits 0 through 9 of the random-number tahle
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
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