Discrete Random Variables: Homework is part of the collection col10555 written by Barbara Illowsky and Susan Dean Homework and provides a number of homework exercises related to Discrete Random Variables (binomial and uniform distribution) with contributions from Roberta Bloom.
1. Complete the PDF and answer the questions.
0
0.3
1
0.2
2
3
0.4
Find the probability that
.
Find the expected value.
0.1
1.6
Suppose that you are offered the following “deal.” You roll a die. If you roll a 6, you win $10. If you roll a 4 or 5, you win $5. If you roll a 1, 2, or 3, you pay $6.
What are you ultimately interested in here (the value of the roll or the money you win)?
In words, define the Random Variable
.
List the values that
may take on.
Construct a PDF.
Over the long run of playing this game, what are your expected average winnings per game?
Based on numerical values, should you take the deal? Explain your decision in complete sentences.
A venture capitalist, willing to invest $1,000,000, has three investments to choose from. The first investment, a software company, has a 10% chance of returning $5,000,000 profit, a 30% chance of returning $1,000,000 profit, and a 60% chance of losing the million dollars. The second company, a hardware company, has a 20% chance of returning $3,000,000 profit, a 40% chance of returning $1,000,000 profit, and a 40% chance of losing the million dollars. The third company, a biotech firm, has a 10% chance of returning $6,000,000 profit, a 70% of no profit or loss, and a 20% chance of losing the million dollars.
Construct a PDF for each investment.
Find the expected value for each investment.
Which is the safest investment? Why do you think so?
Which is the riskiest investment? Why do you think so?
Which investment has the highest expected return, on average?
$200,000;$600,000;$400,000
third investment
first investment
second investment
A theater group holds a fund-raiser. It sells 100 raffle tickets for $5 apiece. Suppose you purchase 4 tickets. The prize is 2 passes to a Broadway show, worth a total of $150.
What are you interested in here?
In words, define the Random Variable
.
List the values that
may take on.
Construct a PDF.
If this fund-raiser is repeated often and you always purchase 4 tickets, what would be your expected average winnings per raffle?
Suppose that 20,000 married adults in the United States were randomly surveyed as to the number of children they have. The results are compiled and are used as theoretical probabilities. Let
= the number of children
0
0.10
1
0.20
2
0.30
3
4
0.10
5
0.05
6 (or more)
0.05
Find the probability that a married adult has 3 children.
In words, what does the expected value in this example represent?
Find the expected value.
Is it more likely that a married adult will have 2 – 3 children or 4 – 6 children? How do you know?
0.2
2.35
2-3 children
Suppose that the PDF for the number of years it takes to earn a Bachelor of Science (B.S.) degree is given below.
3
0.05
4
0.40
5
0.30
6
0.15
7
0.10
In words, define the Random Variable
.
What does it mean that the values 0, 1, and 2 are not included for
in the PDF?
On average, how many years do you expect it to take for an individual to earn a B.S.?
Questions & Answers
I'm interested in biological psychology and cognitive psychology
Communication is effective because it allows individuals to share ideas, thoughts, and information with others.
effective communication can lead to improved outcomes in various settings, including personal relationships, business environments, and educational settings. By communicating effectively, individuals can negotiate effectively, solve problems collaboratively, and work towards common goals.
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miss
Every time someone flushes a toilet in the apartment building, the person begins to jumb back automatically after hearing the flush, before the water temperature changes. Identify the types of learning, if it is classical conditioning identify the NS, UCS, CS and CR. If it is operant conditioning, identify the type of consequence positive reinforcement, negative reinforcement or punishment
nature is an hereditary factor while nurture is an environmental factor which constitute an individual personality. so if an individual's parent has a deviant behavior and was also brought up in an deviant environment, observation of the behavior and the inborn trait we make the individual deviant.
Samuel
I am taking this course because I am hoping that I could somehow learn more about my chosen field of interest and due to the fact that being a PsyD really ignites my passion as an individual the more I hope to learn about developing and literally explore the complexity of my critical thinking skills
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Source:
OpenStax, Collaborative statistics using spreadsheets. OpenStax CNX. Jan 05, 2016 Download for free at http://legacy.cnx.org/content/col11521/1.23
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