6x+4y-3z,7x-11y-9z,14x+8y-6z
1 answer:
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Answer:
E(Y) = $0.5
Var(Y) = 14.25
you should pay the same amount $0.5
Step-by-step explanation:
E(Y) = = Σ(YP)
P = probability of each outcomes.
Var(Y) = Σp − (μ x μ)
E(Y) = (2 x 0.25) +(6 x 0.25) + (0.5 x (-3)) = $0.5
Var(Y) = (x 0.25) + (
x 0.25) +(
x 0.5) - (
)
= 14.5 - 0.25
Var(Y) = 14.25
for the difference between the payoff and cost of playing to have mean 0, you should pay the same amount $0.5
Using the binomial distribution, the probabilities are given as follows:
a) 0.37 = 37%.
b) 0.5065 = 50.65%.
c) 0.3260 = 32.60%.
<h3>What is the binomial distribution formula?</h3>The formula is:
The parameters are:
- x is the number of successes.
- n is the number of trials.
- p is the probability of a success on a single trial.
For this problem, the fixed parameter is:
p = 0.37.
Item a:
The probability is P(X = 1) when n = 1, hence:
Item b:
The probability is P(X = 3) when n = 3, hence:
Item c:
The probability is P(X = 2) when n = 4, hence:
More can be learned about the binomial distribution at brainly.com/question/24863377
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