Suppose you decided to play a gambling game. In order to play the game there is a $1.50 dollar fee to play. If you roll a 1, 2, or 3 you win nothing (i.e., your net profit is $-1.5 dollars). If you roll a 4 or 5, you win $2.50 (i.e., your net profit is $1). If you roll a 6 you win $5.75 (i.e., your net profit is $4.25).
Suppose you decided to play a gambling game. In order to play the game there is a $1.50 dollar fee to play. If you roll a 1, 2, or 3 you win nothing (i.e., your net profit is $-1.5 dollars). If you roll a 4 or 5, you win $2.50 (i.e., your net profit is $1). If you roll a 6 you win $5.75 (i.e., your net profit is $4.25).
a) Use the information described above to constuct a probability distribution table for the random variable xx which represents the net profit of your winnings. Note: Be sure to enter your probabilities as reduced fractions.
| xx | P(x)P(x) |
(You roll a 1,2,or 3) |
(You roll a 1,2, or 3) |
(You roll a 4 or 5) |
(You roll a 4 or 5) |
(You roll a 6) |
(You roll a 6) |
b) Find the amount you would expect to win or lose each time you played the game. Round your final answer to two decimal places.
μ=
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