Answer:
a) -$3.03; b) The $5 on the number 25
Step-by-step explanation:
To find the expected value, multiply each probability by its value and then add them together.
The probability of making a profit of $20 is 3/38; this gives us
3/38(20) = 60/38
The probability of losing $5 is 35/38; this gives us
35/38(-5) = -175/38
Together, this gives us
60/38-175/38 = -115/38 ≈ $-3.03
b) Since the expected value for the $5 bet on a single number is $-0.53, and the expected value for the $5 on either 00, 0 or 1 is $-3.03, the better bet is on the number 25. The expected value loses less money with this option.
Answer:
1. Yes
2. Exactly Double
Hope this helps and have a great day :)
Step-by-step explanation:
The standard deviation of the distribution = 1.5°F
Given that the distribution of daily high temperature is approximately normal.
Population mean, 
= 86°F
Also approximately 95% of all daily high temperatures are between 83°F and 89°F.
So here 
= 83°F and 
= 89°F
We have the z - statistic ,
where 
is the Standard deviation.
For 95% probability, the z-value for normal distribution is 1.96.
As we consider the positive z-value, take X = = 89°F
So,
⇒ 
≈ 1.5°F
So the standard deviation of the distribution = 1.5°F
Learn more about standard deviation at brainly.com/question/475676
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M= 48.16666666666667. You can verify by multiplying it by 54, and comparing it with 51x51 and see if you get same results.
