Exam 1

1. Metainformation

   Tag	Value
   file	Probability_uva-general-rules-1169-en_uva-general-rules-1169-en
   name	uva-general-rules-1169-en
   section	Probability/Elementary Probability/General Rules
   type	schoice
   solution	FALSE, TRUE, FALSE, FALSE
   Type	Conceptual, Calculation
   Language	English
   Level	Statistical Literacy
   IRT-Difficulty	2
   p-value	0.5905

   Question

   You bought two lottery tickets. The first X has a profit expectation of €0.50 with a standard deviation of €0.25 and the second Y €0.75 profit expectation with €0.32 standard deviation. If you exclude the cost of the lots, what is your expectation value of the total profit and its standard deviation?

   
   
   1. FALSE: ΜX+Y = 0.50; σX+Y = 0.72
   2. TRUE: ΜX+Y = 1.25; σX+Y = 0.41
   3. FALSE: ΜX+Y = 0.75; σX+Y = 0.41
   4. FALSE: ΜX+Y = 1.25; σX+Y = 0.16
   
   
   1. ΜX+Y = 0.50; σX+Y = 0.72: Incorrect
   2. ΜX+Y = 1.25; σX+Y = 0.41: Correct
   3. ΜX+Y = 0.75; σX+Y = 0.41: Incorrect
   4. ΜX+Y = 1.25; σX+Y = 0.16: Incorrect