A community for students.

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

anonymous

  • one year ago

A bowl contains 10 chips, of which 8 are marked $2 each and 2 are marked $5 each. Let a person choose, at random and with replacement, three chips from this bowl. If the person receive the sum of the resulting amounts, find his expectation and standard deviation of the amount he received. What is the probability the amount he will receive is within (+-) 1 standard deviation from the mean? E(X) = 2.6 Then I have no more idea.

  • This Question is Closed
  1. anonymous
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Ah 20 more mins to submission due date.

  2. anonymous
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Guess I will go up to my teacher office and submit now :(.

  3. kropot72
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 1

    This can be solved using the binomial distribution. On each draw the probability of $5 is 8/10 = 0.8 and the probability of $2 is 2/10 = 0.2 The probability of getting 3 of $5 chips in three draws is given by: \[\large P(3\ $5)=3C3\times0.8^{3}\times0.2^{0}=0.512\] By similar calculation, we find that: P(2 $5) = 0.384 P(1 $5) = 0.096 However there are only two $2 chips, therefore P(0 $5) = 0 The expected value E is given by: \[\large E=$15\times0.512+$12\times0.384+$9\times0.096+$6\times0=$13.15\]

  4. anonymous
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    O.!, not 2.6?

  5. kropot72
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 1

    $2.60 is far too low for the expected amount.

  6. anonymous
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    That's my friend answer. hmm

  7. anonymous
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Alright I go submit now. Thanks @kropot72 do continue the rest of the question so I could learn.

  8. kropot72
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 1

    I have to log out now. Hopefully someone can continue with this question.

  9. anonymous
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Thank you so much @kropot72

  10. kropot72
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 1

    You're welcome :)

  11. Not the answer you are looking for?
    Search for more explanations.

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.