Question
A rainstorm in Portland, Oregon, wiped out the electricity in5%of the households in the city. Suppose that a random sample of50Portland households is taken after
A rainstorm in Portland, Oregon, wiped out the electricity in5%of the households in the city. Suppose that a random sample of50Portland households is taken after the rainstorm.
a. Estimate the number of households in the sample that lost electricity by giving the mean of the relevant distribution (that is, the expectation of the relevant random variable). Do not round your response.
b. Quantify the uncertainty of your estimate by giving the standard deviation of the distribution. Round your response to at least three decimal places.
a. = ?
b. = ?
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An Introduction to the Mathematics of Financial Derivatives
Authors: Ali Hirsa, Salih N. Neftci
3rd edition
012384682X, 978-0123846822
