Statistics and Probability Answers

In a game you will win $50 with 0.25 probability, lose $20 with 0.3 probability, and lose $10 with 0.45 probability. What is the expected value of playing the game?

A box contains 3 yellow, 4 red, and 5 blue marbles. In an experiment, one draw is made from the box and the outcome is recorded.

a. How many outcomes are in this sample space?

There are 999 Cards with two jokers.

three person(Say a,b,c) draw cards so each will have 333 cards at the end.

what is the probability for only one person getting 2 jokers at the end?

(doesn't matter if its a,b or c)

1.17 Classify each of the following qualitative variables as ordinal or nominative. Explain your answers.

Qualitative Variable Categories
Statistics course letter grade A B C D F
Door choice on Let’s Make A Deal Door #1 Door #2
Television show classifications TV-G TV-PG TV-14 TV-MA
Personal computer ownership Yes No
Restaurant rating ***** **** *** ** *
Income tax filing status Married filing jointly Married filing separately
Single Head of household Qualifying widow(er)

1.16 Discuss the difference between an ordinal variable and a nominative variable.

1.15 Discuss the difference between a ratio variable and an interval variable.

1.10 Explain the term descriptive statistics. Explain the term statistical inference.

1.9 Explain the difference between a census and a sample.

1.8 Define a population. Give an example of a population.

1.2 Below we list several variables. Which of these variables are quantitative and which are qualitative? Explain.

a. The dollar amount on an accounts receivable invoice.

b. The net profit for a company in 2009.