Game of chance: A player rolls a fair six-sided die. If outcome of a roll is an odd number, the player wins as many dollars as there are dots on the top face . Otherwise, the player looses 4 dollars. Let the random variable X be profit (amount won or lost) per game. Make a probability distribution table for the random variable: amount won or lost. Find the Expected value of the experiment Use Law of Large numbers to interpret the meaning of the Expected value If a person plays 100 times, how much he expects to win/loose?
Game of chance: A player rolls a fair six-sided die. If outcome of a roll is an odd number, the player wins as many dollars as there are dots on the top face . Otherwise, the player looses 4 dollars. Let the random variable X be profit (amount won or lost) per game. Make a probability distribution table for the random variable: amount won or lost. Find the Expected value of the experiment Use Law of Large numbers to interpret the meaning of the Expected value If a person plays 100 times, how much he expects to win/loose?
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section: Chapter Questions
Problem 3P: Dividing a Jackpot A game between two pIayers consists of tossing coin. Player A gets a point if the...
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Game of chance: A player rolls a fair six-sided die. If outcome of a roll is an odd number, the player wins as many dollars as there are dots on the top face . Otherwise, the player looses 4 dollars. Let the random variable X be profit (amount won or lost) per game.
Make a probability distribution table for the random variable: amount won or lost.
Find the Expected value of the experiment
Use Law of Large numbers to interpret the meaning of the Expected value
If a person plays 100 times, how much he expects to win/loose?
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