Solve the Problem. -The Probability of Winning a Certain Lottery Is 1/56,728. for Is

question 75

Multiple Choice

Solve the problem.
-The probability of winning a certain lottery is 1/56,728. For people who play 517 times, find the standard deviation for the number of wins.

• A)0.0955
• B)0.1046
• C)0.0091
• D)2.1706

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Definitions:

Call Option

A financial contract that gives the buyer the right, but not the obligation, to buy a stock, bond, commodity, or other asset at a specified price within a specific time period.

Actual Value

The actual value is the genuine, intrinsic value of an asset, without any speculation or market influence; often considered the most accurate value of an asset.

Time Value

The idea that money available now is worth more than the same amount in the future due to its earning potential.

Intrinsic Value

The actual value of a company or an asset based on underlying perception of its true value including all aspects of the business.