Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need 3E and 3F. I also need 4A please. These were not answered on the document. 3. McDonald's is having a promotional lottery. They
I need 3E and 3F. I also need 4A please. These were not answered on the document.
3. McDonald's is having a promotional lottery. They print many prize tickets to be peeled off cups and fries. The prizes and corresponding number of tickets are listed in the table; i.e., 1 in 5000 tickets is a $5,000 prize, 5 in 5,000 tickets are $1,000 prizes, etc. Suppose you have bought one of the tickets and are now interested in knowing more about the set up of the lottery. Use the information in the table to answer the questions. Assume there are so many prize tickets, we can treat this as sampling with replacement. Prize Amount m Probability 0.0002 0.001 0.02 0.1 .8788 (a Is the population of prize money normally distributed? ) (b) What is the expected value of prize money for 1 ticket? (0) What is the standard error of prize money for 1 ticket? ) ((21 Suppose one McDonald's ends up giving out 800 of these tickets in a day. What is the probability they will pay out $2500 or more? (e) If the meal to get a ticket costs $6, what is the probability the McDonald's in part (d) will lose money off of the deal? (f) Explain why you are unable to approximate the chance that you and your 5 friends will win a total of at least $50 on your 6 tickets 4. For each of the scenarios below, determine if the sample is a simple random sample from the population of interest, or if the sample has some form of bias. If there is a bias, describe the nature of the bias in a sentence or two. (a) You are interested in the average height of all freshmen on the UWMadison campus. You draw a simple random sample of freshmen in your statistics classStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started