Game of chance: A player rolls a fair six-sided die. If outcome of a roll is a number smaller then 3, the player wins 5 dollars. Otherwise, the player looses as many dollars as there are dots on the top face of a rolled die. 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 experimentUse Law of Large numbers to interpret the meaning of the Expected valueIf a person plays 100 times, how much he expects to win/loose?

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Answered: Game of chance: A player rolls a fair…

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter8: Sequences, Series, And Probability

Section8.7: Probability

Problem 50E: Medicine Out of a group of 9 patients treated with a new drug, 4 suffered a relapse. Find the...

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Game of chance: A player rolls a fair six-sided die. If outcome of a roll is a number smaller then 3, the player wins 5 dollars. Otherwise, the player looses as many dollars as there are dots on the top face of a rolled die. 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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