4.31. Referto Exercise 4.6. The mean and standard deviation of the probability distribution for the lottery winnings

Question:

4.31. Referto Exercise 4.6. The mean and standard deviation of the probability distribution for the lottery winnings y arc p, = 0.10 and a = 316.23. Suppose you play the lottery 1 million times. Let y denote your average winnings.

(a) Find the mean and standard error of the sampling distribution of y.

(b) About how likely is it that you would '"come out ahead," with your average winnings exceeding $1, the amount you paid to play each time?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 100% (QA)

Answered By

Aysha Ali

my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field. matriculation in science topics; inter in computer science; bachelors in business and information technology _embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_

4.40+ 11+ Reviews 14+ Question Solved

Related Book For book-img-for-question