gmoreno929
New member
- Joined
- Jan 17, 2020
- Messages
- 1
You and a friend are betting on the roll of a die. Specifically you will lose $1 if you roll a 1, 2, or 3, you
will lose $2 if you roll a 4 or 5, and you will win $8 if you roll a 6. Let the random variable X denote the amount of
money you win when playing
this game once.
A)
Find the probability distribution of X.
B)
Find the expected value, standard deviation and variance of X
C)
Explain the meaning of the expected value you obtained in part (b)
D)
Is this a good bet for you? Or for your
friend?
will lose $2 if you roll a 4 or 5, and you will win $8 if you roll a 6. Let the random variable X denote the amount of
money you win when playing
this game once.
A)
Find the probability distribution of X.
B)
Find the expected value, standard deviation and variance of X
C)
Explain the meaning of the expected value you obtained in part (b)
D)
Is this a good bet for you? Or for your
friend?