You and a friend play a game where you each toss a balanced coin. If the upper faces on the coins are both tails, you win $6 ; If the facts are both heads you win $8; If the coin do not match (one shows a head, the other a tail), you lose $4 calcúlate the mean and variance of Y, your winning on a single play of the game. Note that E (Y) > 0 E (Y)= $ V (Y) =
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
You and a friend play a game where you each toss a balanced coin. If the upper faces on the coins are both tails, you win $6 ; If the facts are both heads you win $8; If the coin do not match (one shows a head, the other a tail), you lose $4
calcúlate the mean and variance of Y, your winning on a single play of the game. Note that E (Y) > 0
E (Y)= $
V (Y) =
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