Micheal invested $2000 in a certain stock. At the end of the year the stock could be worth $1600, $1850, $2200, or $2300. He thinks these changes are all equally likely, but he believes there is a 40% chance that the investment will simply stay the same. What is the mean and standard deviation of the profit on the investment?
Micheal invested $2000 in a certain stock. At the end of the year the stock could be worth $1600, $1850, $2200, or $2300. He thinks these changes are all equally likely, but he believes there is a 40% chance that the investment will simply stay the same. What is the mean and standard deviation of the profit on the investment?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 15PPS
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Micheal invested $2000 in a certain stock. At the end of the year the stock could be worth $1600, $1850, $2200, or $2300. He thinks these changes are all equally likely, but he believes there is a 40% chance that the investment will simply stay the same. What is the
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