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October 23, 2014

October 23, 2014

Posted by **carmen, please help!!** on Sunday, October 28, 2012 at 7:49pm.

{HH,HT,TH,TT} - each outcome with probability .25 - winnings are 15,10,5,0

a) Find the mean or expected winnings

b) Find the standard deviation of your winnings.

c) If you had to pay a dime to play the game, what would be the mean of your winnings?

d) If you had to pay a dime to play the game, what would be the standard deviation of your winnings?

- statistics/probability -
**MathMate**, Sunday, October 28, 2012 at 8:02pmExpected winning can be found by summing over all possible outcomes the product of winning and the respective probability.

For outcome HH:

winning=0.25

probability = 0.25

prodcut = 0.25*0.25=0.0625

Repeat for the 3 other outcomes, and add the 4 products together to get the expected winning.

- statistics/probability -
**Anonymous**, Tuesday, December 4, 2012 at 11:24pmThe breaking strength (in pounds) of a certain new synthetic is normally distributed, with a mean of 170 and a variance of 4. The material is considered defective if the breaking strength is less than 166 pounds. What is the probability that a single, randomly selected piece of material will be defective?

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