Mathematics, 01.10.2021 18:30 oof529
The amount of dollars is equivalent to the number of Heads that turn up. This can be viewed in terms of Binomial Probabilities, with p = q = 0.5 and n = 100 (See Section 5.3, page 232 of the textbook).Expected Value or =50Correct: Your answer is correct. Standard Deviation or =5Correct: Your answer is correct. Standard Deviation measures the "risk" of the two games. Since the Standard Deviation of Game 2 is lower than that of Game 1, Game 2 is "less risky". This can be further analyzed by calculating the usual values in Game 2 (See Section 5.3, page 233 of the textbook. Also Problem 5 on page 237 is relevant.). Here "usual" means "happens at least 95% of the time".Usual values of dollars earned are in between (lower end) = $ and (upper end) = $
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The amount of dollars is equivalent to the number of Heads that turn up. This can be viewed in terms...
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