• 0
Votes
name

A PHP Error was encountered

Severity: Warning

Message: Undefined array key "userid"

Filename: views/question.php

Line Number: 212

Backtrace:

File: /home/statpmkj/public_html/application/views/question.php
Line: 212
Function: _error_handler

File: /home/statpmkj/public_html/application/controllers/Questions.php
Line: 416
Function: view

File: /home/statpmkj/public_html/index.php
Line: 315
Function: require_once

An orthodontist has three financing​ packages, and each has a different service charge. He estimates that 30​% of patients use the first plan which has a ​$10  finance​ charge; 20​% use the second plan which has a ​$20 finance​ charge, and 50​% use the third plan which has a ​$30 finance charge. Complete parts a and b.

Find the expected value of the service charge.

Note that Expected values are always obtained by multiplying the x value with its corresponding probabilities and summing the products. 

For the above problem, the expected value  = (0.3*10) + (0.2*20) + (0.5*30) = 22

The stadard deviation is squaroot of the difference between the expected value squared and the sum of the product of the squared values of x with the appropriate probabilities. 

sum(x^2.p) = (0.3*10^2) + (0.2*20^2) + (0.5*30^2) = sqrt(560 - 22^2) = 8.72

  • 0
Reply Report