## Blog Coursehelp
January 5, 2019

## Expected value (mean): The average of the all the possible outcomes of the random

stat question about lottery help please thanks

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## General guidance

Concepts and reason

Expected value (mean): The average of the all the possible outcomes of the random variable is called as the expected value of the probability distribution. The outcomes for the random variable can be either the probability outcomes or the relative frequencies of the variable.

In Statistics, the long run average value obtained by repetitions for the given experiment is termed as expected value for the random variable X. Also, the random variable can be of discrete and continuous type. Moreover, as the number of repetitions is increased, the arithmetic mean of the values is approximately nearer to the expected value. The expected value of the random variable X is usually denoted by E(X).

Fundamentals

The formula for the expected value of the discrete random variable is,

E\left( X \right) = \sum {X\,P\left( X \right)}

Also, E\left( {X – a} \right) = E\left( X \right) – a

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## Step-by-step

### Step 1 of 5

(a.1)

The expected cash prize is obtained as shown below:

It is mentioned that, grand price is $14,000,000. Also, let X is a random variable denoting cash prize That is, \begin{array}{c}\\E\left( X \right) = \sum {X\,P\left( X \right)} \\\\ = 0.242573\\\end{array} Part a.1The expected cash prize is$0.24.

Explanation | Hint for next step

The expected cash prize is obtained by multiply each of the probabilities wi

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12 Product les 10 B 780 C460 1150 50 2000 350 120 SMALL(,4 10 Given the above screenshot, suppose -SMALL(C2:C6,4) is entered into cell C9. What output will result from this formula? 2000 780 50 #NUMI
13 Review Later Suppose -IFERROR(5000/2,1000) 100 is entered into a cell. What is the resulting output of this formula? #NUM! 1100 #VALUE! 2600
14 According to the information mentioned in the course, which of the following color schemes is best practice forfinancial modeling? Hard Codes in Blue, Formulas in Black Hard Codes in Black, Formulas in Blue Hard Codes in Black, Hard Codes in Red Hard Codes in Red, Formulas in Black
15 Which of the following formulas correctly anchors ONLY the row in cell A1? F1$1 SA$1 SA1 A1

17 What is the correct syntax for the-YEARFRAC function? -YEARFRAC(basis,start_date,end_date) -YEARFRAC(start_date,end_date.[basis]) YEARFRAC(start date) YEARFRAC(end date,start date)
18 The result of # ROUND(513.2413,2) is
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