Practice Midterm II

Practice Midterm II - STAT2103 Midterm II Practice Test (1...

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STAT2103 Midterm II Practice Test (1 hour 20min) Closed Book/Notes Formula sheet/Calculator are allowed Answer all the questions (Expect around 25 multiple choice questions) Syllabus: Sections 4.1, 4.2, 4.3, 4.6, 4.11; Section 1.6; Chapter 5: Sections 5.3, 5.4 Along with solving the problems, you should also know interpretation of the answers!!!! P1: A game has the following probabilities of winning certain dollar amounts. There is a 10% chance you will win $5 and a 40% chance you will win $7 and 50% chance that you will win only $3. However, to play a game, you must pay $5 for each play. Answer the following questions: 1. Write the probability model for the total net winnings. Answer: Net winnings (X) = winnings – payment X 0 2 -2 P 0.1 0.4 0.5 2. What type of random variable net winnings is? Answer: Discrete 3. What are the mean and standard deviation of total net winnings? Answer: Mean__-.2_ and Stdev._1.8868_. You play the above game twice. Assume both plays are independent. 4. What is the mean of your total winnings? Answer: Mean _2*(-.2) = -.4___
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This note was uploaded on 04/18/2011 for the course STAT 2103 taught by Professor Pred during the Spring '10 term at Temple.

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Practice Midterm II - STAT2103 Midterm II Practice Test (1...

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