....................................
2 answers:
You might be interested in
Answer:
Step-by-step explanation:
Answer:
Step-by-step explanation:
We can use pytho theorem to find X because its a right triangle, so:
a^2 + b^2 = c^2
plug our numbers
1^2 + 1^2 = x^2
simplify
1+1 = x^2
2=x^2
answer = root2
Answer:
The expected value of profit is -0.5125. This is expected loss as value is negative.
Step-by-step explanation:
We are given the following in the question:
P(winning) = 0.075
Thus,
P(Loosing) =
If we win we gain a profit of $5.50 and if we loose the lottery, we loose $1.
Thus, we can form the probability distribution in the following manner:
Event: Winning Loosing
Profit(x): +5.50 -1
P(x): 0.075 0.925
We have to calculate the expected value of the profit.
Thus, the expected value of profit is -0.5125. This is expected loss as value is negative.