Mary is deciding whether to book the cheaper flight home from college after her final exams, but she's unsure when her last exam will be. She thinks there is only a 20% chance that the exam will be scheduled after the last day she can get a seat on the cheaper flight. If it is and she has to cancel the flight, she will lose $100. If she can take the cheaper flight, she will save $50. a) If she books the cheaper flight, what can she expect to gain, on average? b) What is the standard deviation?

Mary is deciding whether to book the cheaper flight home from college after her final exams, but she's unsure when her last exam will be. She thinks there is only a 20% chance that the exam will be scheduled after the last day she can get a seat on the cheaper flight. If it is and she has to cancel the flight, she will lose $100. If she can take the cheaper flight, she will save $50. a) If she books the cheaper flight, what can she expect to gain, on average? b) What is the standard deviation?

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Description: Mary is deciding whether to book the cheaper flight home from college after her final exams, but she's unsure when her last exam will be. She thinks there is only a20% chance that the exam will be scheduled after the last day she can get a seat on t

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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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.

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Mary is deciding whether to book the cheaper flight home from college after her final exams, but she's unsure when her last exam will be. She thinks there is only a
20% chance that the exam will be scheduled after the last day she can get a seat on the cheaper flight. If it is and she has to cancel the flight, she will lose $100. If
she can take the cheaper flight, she will save $50.
a) If she books the cheaper flight, what can she expect to gain, on average?
b) What is the standard deviation?
a) If she books the cheaper flight, what can she expect to gain, on average?
On average, she can expect to gain $.

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