Practice Assessement Questions.dock-Word (Product Activation Failed AYOUT REFERE

Question

Practice Assessement Questions.dock-Word (Product Activation Failed AYOUT REFERENCES MAILNGS REVIEW VIEW Aa - A-y.A-IFE . Ia-. |LTNkrmalTKlo Spac Heading 2 Heading 1 Title Sul Paragraph Styles 0 Blank or no understanding of the concept 1-2 Very little understanding of the concept May provide correct formula or partial answer Basic understanding of the concept 4Strong understanding of the concept but makes minor mistakes 5 Complete understanding of the concept with no mistakes You must show ALL work for full credit. Round all decimal answers to 2 places Each problem is worth 5 points. (Course Goal # 1) 1. In a lottery game, you pay 63 cents to select a sequence of 4 digits, such as 5243. If you select the same sequence of 4 digits that are drawn, you win $450 a. Find the probability that you select the same sequence of digits b. What is the expected value of your winnings? (Course Goal #2) 2. For men aged 22-28, systolic blood pressures (in mm Hg) are normally distributed with a mean of = 1 12.6 and a standard deviation of -122. Hypertension is commonly

Explanation / Answer

a) Number of ways in which same sequence can be selected = 1 as there is only one right answer

Total sequences = 10^4

So, P = 1/10000 = 0.0001

b) EV = 0.0001 * 450 - 0.63

EV = - 0.585$

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