5. The following dice game cost $10 to play. If you roll 1, 2, or 3, you lose your money. If you roll 4 or 5, you get your money back. If you roll a 6, you win $24. (a) Find the probability mass function of your winnings W. (b) Find the expected value of the game. (c) Simulate this dice game. Estimate the expectation and variance of your winnings.
5. The following dice game cost $10 to play. If you roll 1, 2, or 3, you lose your money. If you roll 4 or 5, you get your money back. If you roll a 6, you win $24. (a) Find the probability mass function of your winnings W. (b) Find the expected value of the game. (c) Simulate this dice game. Estimate the expectation and variance of your winnings.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section: Chapter Questions
Problem 72RE
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THE SIMULATION IN PART 5(C) MUST BE DONE IN R.
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