Solution-Expected value is within one standard deviation

Expected value is within one standard deviation

Assignment Help Applied Statistics

Reference no: EM13236060

Only using standard six sided dice and/or a standard deck of playing cards, create a casino game that has all of the following characteristics:

1. The expected value is within one standard deviation of themean(so you must calculate both the standard deviation and expected value for your game).

2. The expected value is in the favor of the house.

3. When you play it many times (the means you must play it at least 20 times) your values are consistent with Chebyshev's Rule.

Reference no: EM13236060

Questions Cloud

Explain the original concentration of the v3+ solution : This solution was back-titrated with a 0.0460 M Ga3+ solution until all the EDTA reacted, requiring 11.0 mL of the Ga3+ solution. What was the original concentration of the V3+ solution

Kashmir crisis develop at the moment of independence : How did the Kashmir crisis develop at the moment of independence from British colonial rule and the creation of Pakistan and India and furthermore, how did the crisis transform over its almost seven decades long struggle with its relationship with In..

What are ethics : What are ethics? How do you mediate personal ethics when they differ from a company's ethics? What are some methods for exploring and researching a company's ethics and values?

European imperialism in the late nineteenth century : What were the main motivations for European imperialism in the late nineteenth century? Why were they successful imperialists? Where did they colonize and what where some of the characteristics of their empires?

Expected value is within one standard deviation : The expected value is within one standard deviation of themean(so you must calculate both the standard deviation and expected value for your game).

Which of the following variables is measured at ratio level : Which of the following variables is measured at the ratio level?

Explain what were the molarities in the original solution : The Cd2+ was displaced from EDTA by the addition of an excess of CN-. Titration of the newly freed EDTA required 29.2 mL of 0.0120 M Ca2+ . What were the molarities of Cd2+ and Mn2+ in the original solution

Explain the resource-based view : Explain the resource-based view and its relation to strategic management. Identify at least three ways that this view differs from the I/O view.

Find the distance the object is from the lens : An image projected on a screen is 9.1 cm high and is 6.4 cm from the lens. If the object that produces the image is 1.2 cm tall on the screen

User Account

All Pages

Expected value is within one standard deviation

Reference no: EM13236060

Reference no: EM13236060

Questions Cloud

Reviews

Write a Review

Applied Statistics Questions & Answers

Importance of the independent variable in linear regression

Formal hypothesis test

Regression analysis techniques

What is the procedure for using mean and median

Compute the mean and sd of the probability

Estimate for the mean hospital cost for victims

Calculate the maximum reduction in the standard deviation

What is the probability

What was the sample size and how was the data collected

Analyze the processed data in statistical survey

Study design

What research design was used this study

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT