12th Edition

ISBN: 9780321836960

Author: Mario F. Triola

Publisher: PEARSON

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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 re…

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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Textbook Question

Chapter 5, Problem 9RE

Expected Value for a Magazine Sweepstakes Reader’s Digest ran a sweepstakes in which prizes were listed along with the chances of winning: $1,000,000 (1 chance in 90,000,000), $100,000 (1 chance in 110,000,000). $25,000 (1 chance in 110,000,000), $5,000 (1 chance in 36,667,000), and $2,500 (1 chance in 27,500,000).

a. Assuming that there is no cost of entering the sweepstakes, find the expected value of the amount won for one entry.
b. find the expected value if the cost of entering this sweepstakes u die cost of a postage stamp. Is it worth entering this contest?

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Chapter 5, Problem 8RE

Chapter 5, Problem 10RE

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Chapter 5 Solutions

Elementary Statistics

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Solution Summary: The author explains how the random variable x represents the prizes and P (x) represent the corresponding probabilities. The expected value for this strategy can be calculated by using the formula.

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