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The law of large numbers tells us what happens in the long run. Like many games of chance, the numbers racket has outcomes so variable - one three-digit number wins $600 and all others win nothing - that gamblers never reach "the long run." Even after many bets, their average winnings may not be close to the mean. For the numbers racket, the mean payout for single bets is $0.60 (60 cents) and the standard deviation of payouts is about $18.96. If Joe plays 350 days a year for 40 years, he makes 14,000 bets. (A) What is the standard deviation of the average payout x that Joe receives from his 14,000 bets?Give your answer in dollars to 4 decimal places. (B) What is the mean of the average payout x that Joe receives from his 14,000 bets? Give your answer in dollars to 2 decimal places. (C) The central limit theorem says that his average payout is approximately Normal with the mean and standard deviation you found above. What is the approximate probability that Joe's average payout per bet is between $0.50 and $0.70?Use Table A and give your answer to 4 decimal places.
Using the second derivative or otherwise, distinquish the maximum and minimu points of the curve.
A dietician wishes a patient to have a meal that has 66 grams (g) of protein, 94.5 g of of carbohydrates, and 910 miligrams of (mg) of calcium. Dinner for today is chicken, corn, and milk. Each serving of chicken has 30 g of protein, 35 g of carbo..
Find the principal amount
The regular supplier, company y charges $150 for the first 100 microchips and $2 for each microchip over this amount. The minimum order is 100 microchips. how much will it cost company x to purchase 2,0000 microchips from company y.
There were 116 fewer blue balloons than white ones. How many balloons of each color did Marty inflate?
the annual income from the certificate of deposit is $200 more than the annual income from the mutual fund. how much money was put into each fund?
You purchased 300 shares of Deltona, Inc. stock for $44.90 a share. You have received a total of $630 in dividends and $14,040 in proceeds from selling the shares. What is your capital gains yield on this stock?
Finding the solution for the specified variable in the given equation Solve x=yz
John invested $15,000 into two accounts paying 6% and 8% intreset. His total return at the end of the year was $1,112.55, how much did he invest in each account?
An expanding company is creating a model of the design for their new workspace. The workspace will be square, with a retangular section designated for a help desk. Determine what the square footage of the work space will be without the rectangular..
In spring 2006 the average monthly rent was $1,355, an increase of 3.6percent from 2005. What was the average monthly rent in 2005.
for a sample of n=100, find the probability of a sample mean being greater than 24.3 if u=24 and o=1.25.
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