Question

gnment 12 (Chapters 13 & 14) due 10/24 Random EV and SE Sum.problem Statistics for Chance Numbers: EV and SE of the sum 49 draws are made at random with replacement from a box containing these 6 tickets: 5, 10, 7, 4, 2, 2 a. What is the smallest possible value the sum of the 49 draws could be? Tries 0/3 Submit Answer b. What is the largest possible value the sum could be? Tries 0/3 Submit Answer c. What is the average of the box? (Round to 2 decimal places) Tries 0/3 Submit Answer e. What is the Expected Value of the sum of the draws? Tries 0/3 Submit Answer f. The SD of the box is 2.83. What is the Standard Error of the sum of the draws? (Round to 2 decimal places) Tries 0/3 Submit Answer

Answer 1

@ smallest pornible value the sum of the 49 draws could be r 987 The sum will be smallest if we draw 49 times the smallest ticket lea'. smallest value = 2 x 4 9 = 98 - Largest posible value the sum could be l 490] large ticket value = 10. so, largest Value of sum = 10x 49 = 490 O Average of the box ? [ 5.00 ] Average - 5410 +7+4+2+2 - = 5.-15.00 @ Expected value of the sum of the draws [ 245] Expected value = (number of drw) x (average of box) = 49x5 = 245

© Standard enor of the sum of the drawwa [ 19.8) ] SD of box = 2.83 Standard foror of sum of the dracs = number of draws x so of box =√49 x 62.83 = = 7x2.83 19.81