tutorial3 - Stat 211 Tutorial 3 1 Bart pays $5 to play a...

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Stat 211 - Tutorial 3 1. Bart pays $5 to play a game in which he throws two dice. If he gets 2 fives, he wins $25. If he gets only 1 five, he wins $10. Otherwise, he wins nothing. (a) Provide the probability distribution of X , where X represents Bart’s profit in one game. (b) Find E ( X ) and V ar ( X ) . 2. Mapple’s inventory comprises of 60% Mypods and 40% Myphones. A Mypod costs $100 whereas a Myphone costs $200. Let X be the price of a randomly selected inventory item. (a) Provide the probability distribution of X . (b) Find the mean, variance and standard deviation of X . (c) A year has passed and due to inflation, the prices of these items have increased by 5%. Let Y be the price of a randomly selected inventory item. Find the mean, variance and standard deviation of Y . (d) Ignore part c). Suppose that Mapple upgrades the hardware in all Mypods and Myphones. As a result, every item in the inventory has increased by $10. Let P be the new price of a randomly selected inventory item. Find the mean, variance and standard deviation of P .
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