Solved: On may 11 2013 at 930 pm the probability that moderate, Basic Statistics

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On may 11 2013 at 930 pm the probability that moderate

Question: On May 11, 2013 at 9:30 PM, the probability that moderate seismic activity (one moderate earthquake) would occur in the next 48 hours in Japan was about 1.08%. As in Example, you bet that a moderate earthquake will occur in Japan during this period. If you win the bet, you win $100. If you lose the bet, you pay $10. Let X = the amount of profit from a bet. Find the mean and standard deviation of X.

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Basic Statistics: On may 11 2013 at 930 pm the probability that moderate

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