(ii) A grocery store gives its customers cards that may win them a prize when matched...
(ii) A grocery store gives its customers cards that may win them a prize when matched with other cards. The back of the card announces the following probabilities of winning various amounts are when a customer visits the store 10 times:
|
Amount |
$1000 |
$200 |
$50 |
$10 |
|
Probability |
1/10,000 |
1/1000 |
1/100 |
1/20 |
- What is the probability of winning nothing?
- What is the mean amount won?
- What is the standard deviation of the amount won?
Homework Answers
Youre right ;264.07 is the varince.
Standard deviation is the square root of it or 16.2
a) Deciamal format,to 4 decimal places
b) Two decimal places.
c). 2 decimal places
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