MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $18. If you roll a 4 or 5, you win $4. Otherwise, you pay $5.

a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate. 

X P(X)
   
   
   

b. Find the expected profit. $ (Round to the nearest cent)

c. Interpret the expected value.

  • This is the most likely amount of money you will win.
  • If you play many games you will likely win on average very close to $1.83 per game.
  • You will win this much if you play a game.
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