1,
Let's say our population distribution consisting of the number
of credits of all current students at a Community College this term
is approximately normal. Let's assume that of all the college
students, the average number of credits taken this term is 14.4 on
average, with a standard deviation of 2.2361 credits. What is the
probability that the average amongst a group of 25 students would
be less than 13.8 credits?
List the mean and standard deviation of your sampling distribution.
Then, write your answer to the probability question in a complete
sentence.
2, A bag contains 2 gold marbles, 9 silver marbles, and 21 black
marbles. Someone offers to play this game: You randomly select one
marble from the bag. If it is gold, you win $4 overall (including
the cost to play). If it is silver, you win $2 overall. If it is
black, you lose $1 overall.
What is your expected value of actual winnings if you play this
game? Round your answer to two decimal places.
We would be looking at the first question here.
Q1) As the underlying distribution is approximately normal here, therefore the mean and standard deviation of the sampling distribution here are computed as:
therefore 14.4 and 0.44722 are the mean and standard deviation of the sampling distribution of sample mean here.
The probability now is computed here as:
Converting it to a standard normal variable, we have here:
Getting it from the standard normal tables, we have here:
Therefore 0.0899 is the required probability here.
1, Let's say our population distribution consisting of the number of credits of all current students...
Question 14 A bag contains 1 gold marbles, 8 silver marbles, and 26 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $4. If it is silver, you win $2. If it is black, you lose $1. What is your expected value if you play this game?
A bag contains 1 gold marbles, 9 silver marbles, and 22 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $3. If it is silver, you win $2. If it is black, you lose $1. What is your expected value if you play this game? Round to the 2nd decimal place
A bag contains 3 gold marbles, 8 silver marbles, and 21 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $4. If it is silver, you win $3. If it is black, you lose $1. What is your expected value if you play this game?
A bag contains 4 gold marbles, 9 silver marbles, and 24 black marbles. The rules of the game are as follows: You randomly select one marble from the bag. If it is gold, you win $4, if it is silver, you win $3. If it costs $1 to play, what is your expected profit or loss if you play this game?
A bag of marbles contains 2 gold marbles, 10 silver marbles, and 30 black marbles. You decide to play the following game: Randomly select one marble from the bag. If it is gold, you win $5. If it is silver, you win $2. If it is black, you lose $2. What is the expected value if you play the game? Express losses as negative values and do not include the dollar sign in your answer. Round to the nearest cent.
2. Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects a face card (Jack, Queen, or King), North pays him $5. If Kyd selects any other type of card, he pays North $2. a) What is Kyd's expected value for this game? Round your answer to the nearest cent. $ b) What is North's expected value for this game? Round your answer to the nearest cent. $ c) Who has...
Let's say I am interested in creating a sampling distribution with 25 students per sample to calculate the average number of credits PCC students are taking this term. In your own words, describe how we would create a histogram to represent a sampling distribution 25 observations per sample. For full credit, make sure your solution distinguishes your answer from a population distribution, and a sampling distribution of proportions.
One of the students in this class has created a game and would like for you to play. You have calculated that you will lose the game 45% of the time. At the same time you know that 30% of players will be paid $1 while 20% of players will be paid $2. It is calculated that all other players will receive the $100 prize. What is the expected value for this game? (Enter your solution as a decimal without...
One of the students in this class has created a game and would like for you to play. You have calculated that you will lose the game 45% of the time. At the same time you know that 30% of players will be paid $1 while 20% of players will be paid $2. It is calculated that all other players will receive the $100 prize. What is the expected value for this game? (Enter your solution as a decimal without...
Can someone help with this problems please 1. (10 pts] Suppose that for a given term, data is collected on the types of courses that SPSCC students take with an interest in online and evening courses. Answer the following questions using the distribution of students below. Online Course No Online Course Totals Evening Course 28 42 70 No Evening Course 82 200 282 Totals 110 242 352 a. What is the probability a student is taking an online course? b....