Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Computing the Mean of Distribution.

If a lottery ticket has a grand prize of $25 million then the probability of winning is .000000042.

On the basis of expected value of the lottery ticket would you pay $1 for a ticket? Round your answer to 3 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)

The expected winning is $6

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M921209

Have any Question? 


Related Questions in Statistics and Probability

Microcomputer components a staff analyst for a manufacturer

Microcomputer components. A staff analyst for a manufacturer of microcomputer components has compiled monthly data for the past 16 months on the value of industry production of processing units that use these components ...

Question to qualify for security officers training recruits

Question: To qualify for security officers training, recruits are tested for stress tolerance. The scores are normally distributed with a mean of 62 and a standard deviation of 8. If only the top 15% of recruits are sele ...

Jim has weighted gpa of 384 his high school gpas are

Jim has weighted GPA of 3.84. His high school GPA's are normally distributed with a mean of 2.9 and a standard deviation of 0.5. Kim's high school uses unweighted GPA's and she has a GPA of 3.57. GPA's are also normally ...

Grear tire company has produced a new tire with an

Grear Tire Company has produced a new tire with an estimated mean lifetime mileage of 36,500 miles. Management also believes that the standard deviation is 5000 miles and that tire mileage is normally distributed. To pro ...

1 why must a different t-test be used for matched-subjects

1. Why must a different t-test be used for matched-subjects and within-subjects designs than for randomized groups designs? 2. What was W. S. Gosset's contribution to behavioral research?

Exposure to medicine x during pregnancy was investigated

Exposure to medicine 'x' during pregnancy was investigated for 108 mothers of children with congenital defects and 108 mothers of normal controls. The researchers examined exposure to medicine 'x' during the first trimes ...

1 what is the difference between descriptive and

1. What is the difference between descriptive and inferential statistics? 2. Describe the most common descriptive statistics. 3. What are standard scores, and how are they calculated? 4. What is meant by an unbiased esti ...

Prove that if romeo and juliet are matched to each other

Prove that if Romeo and Juliet are matched to each other under both the men's courtship and the women's courtship algorithms, then they are matched to each other under any stable matching.

Exercises -81- for each of the following pairs explain why

Exercises - 8.1- For each of the following pairs, explain why you believe that they are positively related, negatively related, or essentially unrelated. If they are related, identify the dependent variable. a. The cost ...

A machine used to fill gallon-sized paint cans is regulated

A machine used to fill gallon-sized paint cans is regulated so that the amount of paint dispensed has a mean of 138 ounces and a standard deviation of 0.40 ounce. You randomly select 45 cans and carefully measure the con ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro