Mathematics, 29.11.2020 02:20 jazzy4211
You roll 2 dice. If the sum of the dice is: 2, 3, 4 you win $20. If the sum is 5, 6, 7, 8 you win $10. If the sum is 9, 10, 11 you lose $20. If the sum is 12 you lose $25. It costs $5 to play. Create a probability distribution of the random variable, “winnings” including the cost to play, for this game. What is the expected value of the “winnings” for this game? What is the variance for the “winnings” for this game? What is the standard deviation? Is this game a “fair game”? Why or why not?
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You roll 2 dice. If the sum of the dice is: 2, 3, 4 you win $20. If the sum is 5, 6, 7, 8 you win $1...
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