Kyra and her twin sister share shoes. In there closet they have four pairs of Sandals,five pairs of tennis shoes, and three pair
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Answer:
The expected payoff for this game is -$1.22.
Step-by-step explanation:
It is given that a pair of honest dice is rolled.
Possible outcomes for a dice = 1,2,3,4,5,6
Two dices are rolled then the total number of outcomes = 6 × 6 = 36.
The possible ways of getting a total of 7,
{ (1,6), (2,5), (3,4), (4,3), (5,2), (6,1) }
Number of favorable outcomes = 7
Formula for probability:
So, the possibility of getting a total of 7 =
The possible ways of getting a total of 11,
{(5,6), (6,5)}
So, the probability of getting a total of 11 = =
Now, other possible rolls = 36 - 6 - 2 = 36 - 8 = 28,
So, the probability of getting the sum of numbers other than 7 or 11 = =
Since, for the sum of 7, $ 22 will earn, for the sum of 11, $ 66 will earn while for any other total loss is $11,
Hence, the expected value for this game is
Therefore the expected payoff for this game is -$1.22.
Answer:
And the critical value for the significance level used is:
Since the calculated value is less than the critical value we have enough evidence to FAIL to reject the null hypothesis and we can conclude that the College graduation status and cola preference are independent
Step-by-step explanation:
For this case we want to test the following hypothesis:
Null hypothesis: College graduation status and cola preference are independent
Alternative hypothesis: College graduation status and cola preference are dependent
For this case we got a calculated statistic of:
And the critical value for the significance level used is:
Since the calculated value is less than the critical value we have enough evidence to FAIL to reject the null hypothesis and we can conclude that the College graduation status and cola preference are independent