SOLUTION: 5.2 (10, 14) 10. Determine whether the distribution represents a probability distribution. It not, state why. x 20 30 40 50 p(x)1.1 0.2 0.9 0.3 14. State wh

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Question 160822This question is from textbook Elementary Statistics
: 5.2 (10, 14)
10. Determine whether the distribution represents a probability distribution. It not, state why.
x 20 30 40 50
p(x)1.1 0.2 0.9 0.3
14. State whether the variable is discrete or continuous.
The number of people who play the state lottery each day.
5.3 Problem # 19
A person decides to invest $50,000 in a gas well. Based on history, the probabilities of the outcomes are as follows.

Outcome p(x)
$80,000 (highly successful) 0.2
$40,000 (Moderately successful) 0.7
-$50,000 (Dry well) 0.1

Find the expected value of the investment. Would you consider this a good investment?
5.4 Problem # 16
16. Find the mean, variance, and standard deviation for the number of heads when 20 coins are tossed.
This question is from textbook Elementary Statistics

Answer by Fombitz(13828) (Show Source):
You can put this solution on YOUR website!
5.2 (10, 14)
10. No, p(x)<=1, p(20)>1.
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14. Discrete, the values are only positive integers (0,1,2,3,...). no numbers in between.
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5.3 Problem # 19

You put in $50,000 and get back $39,000. Doesn't seem like a good investment.
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Coin flipping is a binomial event (heads or tails).
Number of trials(coin flips), n=20
Probability of heads, p=1/2.
Mean==10 heads
Variance =
Standard deviation =