please answer a,b,c,e,f. Thank you! (2) A game consists of drawing tickets with
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please answer a,b,c,e,f. Thank you! (2) A game consists of drawing tickets with numbers on them from a box, ndependently with replacement. In order to play you have to stake S2 each time you draw a ticket. Your net gain is the number on the ticket you draw. Suppose there are 4 tickets in the box with numbers -2,-1, 0, 3 on them. I, for example the ticket shows S3 then you get your stake back, plus an additional S3. (a) Let I be the indicator of making a positive net gain on an single game. Find the mearn and variance of I. Hint: l is really a binomial random variable with n = 1, what is p? (b) Suppose that you play this game 300 times, and let S denote the number of times that you have a positive net gain. Give the mean and the variance of S (c) Find an estimate of the probability that S is greater than equal to 90. (d) Let X stand for your net gain (or loss) on a single game. Find the mean and variance of X (e) If you play this game 300 times, what is the approximate probability that you will have a net gain of $70 or more? (f) If you play this game 300 times, what is the approximate probability that you will have a loss of $5 or more?Explanation / Answer
please answer a,b,c,e,f. Thank you! (2) A game consists of drawing tickets with numbers on them from a box, ndependently with replacement. In order to play you have to stake S2 each time you draw a ticket. Your net gain is the number on the ticket you draw. Suppose there are 4 tickets in the box with numbers -2,-1, 0, 3 on them. I, for example the ticket shows S3 then you get your stake back, plus an additional S3. (a) Let I be the indicator of making a positive net gain on an single game. Find the mearn and variance of I. Hint: l is really a binomial random variable with n = 1, what is p? (b) Suppose that you play this game 300 times, and let S denote the number of times that you have a positive net gain. Give the mean and the variance of S (c) Find an estimate of the probability that S is greater than equal to 90. (d) Let X stand for your net gain (or loss) on a single game. Find the mean and variance of X (e) If you play this game 300 times, what is the approximate probability that you will have a net gain of $70 or more? (f) If you play this game 300 times, what is the approximate probability that you will have a loss of $5 or more?Related Questions
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