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Week2HW

# Week2HW - QRM EC315 Homework Week 2 Chapter 6 question 36...

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QRM EC315 Homework Week 2 Chapter 6 question 36 Divisions Payout(x) Odds Probability(x) xP(X) 5 + PB \$50,000,000 146107962 0.000000006844 \$0.34220 match 5 \$200,000 3563609 0.000000280614 \$0.05612 4 + PB \$10,000 584432 0.000001711060 \$0.01711 match 4 \$100 14255 0.000070145903 \$0.00701 3 + PB \$100 11927 0.000083836351 \$0.00838 match 3 \$7 291 0.003424657534 \$0.02397 2 + PB \$7 745 0.001340482574 \$0.00938 1 + PB \$4 127 0.007812500000 \$0.03125 0 + PB \$3 69 0.014285714286 \$0.04286 Divisions x - mean (x - mean)^2 ( x - mean)^2*P(x) 5 + PB \$49,999,999.46 2499999946170530.0000 17109999.6316 match 5 \$199,999.46 39999784682.3902 11224.4996 4 + PB \$9,999.46 99989234.3948 171.0876 match 4 \$99.46 9892.6308 0.6939 3 + PB \$99.46 9892.6308 0.8294 match 3 \$6.46 41.7536 0.1430 2 + PB \$6.46 41.7536 0.0560 1 + PB \$3.46 11.9834 0.0936 0 + PB \$2.46 6.0600 0.0866 Mean payout = \$0.53829 Standard deviation of the payout = \$4137.8010 If the cost of a ticket is taken into account, then the mean is a loss of \$0.46171 and the standard deviation is still \$4137.8010. Chapter 6 Question 39 a . 6 , found by (0.4)(15) b . 0.0245 , found by (15! / 10!5!) (0.4)^10 (0.6)^5

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Week2HW - QRM EC315 Homework Week 2 Chapter 6 question 36...

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