The payouts for the Powerball lottery and their corresponding odds and probabilities of occurrence are shown below.

Question:

The payouts for the Powerball lottery and their corresponding odds and probabilities of occurrence are shown below. The price of a ticket is $1.00. Find the mean and standard deviation of the payout.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Statistical Techniques in Business and Economics

ISBN: 978-0078020520

16th edition

Authors: Douglas Lind, William Marchal

See More Books

Question Posted: Dec 10, 2014 11:50 AM

See More Questions

Find the mean and standard deviation for the random variable x. Use the range rule of thumb to identify the range of usual values for the number of males with tinnitus among four randomly selected...
For this data set, find the mean and standard deviation of the variable. The data represent the serum cholesterol levels of 30 individuals. Count the number of data values that fall within 2 standard...
Find the mean and standard deviation for each binomial random variable: a. n = 8, = .10 b. n = 10, = .40 c. n = 12, = .50
Allison is paid $1,520 per week. What is the amount of federal income tax withheld from Allisons paycheck under the following conditions? Use the percentage method table in the Appendix to this...
(a) Obtain the equations of motion of the system shown in Figure. (b) Suppose the inertias are I1 = I and I2 = 21 and the torsional spring constants are k1 = k2 = h = k. Obtain the transfer functions...
The following financial statements apply to Karl Company: Required Calculate the following ratios for 2018 and 2019. When data limitations prohibit computing averages, use year-end balances in your...
What are the likely effects of the increasing size and power of multinational corporations on world politics? Will the enormous power of these corporations result in a more homogenous world?
Trichloroethylene, a widely used degreasing solvent for machine parts is produced in a two-step reaction sequence. Ethylene is first chlorinated to yield tetrachloroethane, which is...
Joe aged 24, and Kate, aged 24, met in college. While studying, Joe worked part-time selling car parts to autobody shops in the GTA. He earned $12,000 a year, for two years. After graduating from...
1. What facts would support Leonards primary argument as to why this commercial was a unilateral offer to contract? 2. If the wording on the catalog order form had allowed a consumer to write in the...
The following notice appeared in the golf shop at a Myrtle Beach, South Carolina, golf course. Blackmoor Golf Club Members The golf shop is holding a raffle to win a TaylorMade R9 10.58 Regular Flex...
In a recent survey, 35% indicated chocolate was their favorite flavor of ice cream. Suppose we select a sample of 10 people and ask them to name their favorite flavor of ice cream. a. How many of...
On the basis of past performance, the probability that the favorite will win the Bellevue Handicap is .46, while there is a probability of only .1 that a certain dark horse will win. If the favorite...
A nonlinear model is given. a. Obtain the linear state-space form in Simulink. b. Derive the linearized model analytically to confirm the result of (a). \(\ddot{x}+\dot{x}+x|x|=1+\sin t, \quad...
Derive the linearized model for the nonlinear system, described by \[\begin{cases}\dot{x}_{1}=x_{1}\left|x_{1} ight|+x_{2}-1+\sin t & x_{1}(0)=-1 \\ \dot{x}_{2}=-x_{1}-x_{2}-1 &...
Use MATLAB commands to define the systems in the state-space form and then convert to the transfer function form. Assume that the displacements of the two masses, $x_{1}$ and $x_{2}$, are the...
Use MATLAB commands to define the systems in the state-space form and then convert to the transfer function form. Assume that the displacements of the two masses, $x_{1}$ and $x_{2}$, are the...
A robot arm consists of rigid links connected by joints allowing the relative motion of neighboring links. The dynamic model for a robot arm can be derived using Lagrange's equations...
Using your knowledge of the college environment, convert a table with the following notation to an equivalent collection of tables that are in third normal form: Student (StudentNum, StudentName,...
In a nonmagnetic medium, E = 50 cos (10 9 t 8x) a y + 40 sin (10 9 t 8x) a z V/m find the dielectric constant r and the corresponding H.
A merry-go-round, starting from standstill, begins to turn with constant angular acceleration $\dot{\omega}=0.1 \mathrm{rad} / \mathrm{s}^{2}$. An observer is at rest at a distance \(R=3...
A sample of 28 student scores on the chemistry midterm exam is shown. (a) At 5 .10, does the population median differ from 50? Make a worksheet in Excel for your calculations. (b) Make a histogram of...
Final exam scores for a sample of 20 students in a managerial accounting class are shown. (a) At = .05, is there a difference in the population median scores on the two exams? Make an Excel...
Bob and Tom are "paper investors." They each "buy" stocks they think will rise in value and "hold" them for a year. At the end of the year, they compare their stocks' appreciation (percent). (a) At ...
For each of the following: identify all critical numbers and use these to determine all region(s) where the function is increasing as well as all region(s) where the function is decreasing. Then...
Determine the most suitable data structure for the above graph and show it adjacency representation. (5 markah/marks)
The table gives the outdoor temperatures observed by a science student on a spring day. Draw a graph of the data, and find the average rate of change of temperature between the following times: a)...

The payouts for the Powerball lottery and their corresponding odds and probabilities of occurrence are shown below.

Question:

Divisions Five plus Powerball Four plus Powerball Three plus Powerball Two plus Powerball Zero plus Powerball $50,000,000 200,000 10,000 146,107,962 3,563,609 0.000001711060 0.000070145903 0.000083836351 0.003424657534 0.001340482574 0.007812500000 0.014285714286 2 100

Step by Step Answer:

Divisions Payoutx Odds Probabilityx xPX 5 PB 50000000 146107962 0000000006844 034220 matc...View the full answer

Statistical Techniques in Business and Economics

Students also viewed these Statistics questions