Discuss the following:
If you are calculating something using a table, the number of decimal places from the table is expected. like z=1.00, table value is .8413 (2 decimal places for z, 4 for the probability)
Q1) The local lottery sets up a game wherein a player has a chance of collecting $800. The player must choose a 3-digit number and if it matches the lottery number, the player receives $800 000 is a 3-digit number for lottery draws. (as are 001, 023, etc.) It costs $2 to play the game. What is each player's expected profit (or loss).
Q2) Complete the following Probability Distribution. Then calculate the mean (2 decimal places). If impossible to calculate, write in 0 (zero) for the mean. Your answer should be the mean (not the value you used to complete the distribution)
x | P(x)
0 | .40
1 | .20
2 | 0.13
3 | ?
Q3) The probability Mary will receive an A in a class is 0.42. Assuming independence, if she is taking 5 classes this semester, calculate the probability she will receive exactly 3 A's.