Homework: Homework 2 Score: 0 of 1 pt 6.1.37 9019(8complete) Hw Score: 66.67% 6

Question

Homework: Homework 2 Score: 0 of 1 pt 6.1.37 9019(8complete) Hw Score: 66.67% 6 of 9 pts Mary-deciding whether to book thcheaper thorne homeologe aher her fir ai exams, ba she's unsure when her last exam wil be She Pirks Pere is oly a 20% chroegat iha emi ust day she can get a seat on the cheaper fight. If it is and she has to cancel the fight, she will lose $300. if she can take the cheaper fight, she will save $200 a) if she books the cheaper fight, what can she expect to gain, on average? b) What is the standard deviation? be d alw

Explanation / Answer

a)here expected gain E(X)=0.8*200-0.2*300 =100

b)E(X2) =0.8*2002+0.2*(-300)2 =50000

therefore std deviation=(E(X2)-(E(X))2)1/2 =200

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