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Anthony is offered to place a $13 bet on a certain event the probability of which happening is estimated to be 80%. In case of the event occurring Anthony will receive a total of $20. Let XX  be the Anthony's winnings from the bet. Answer the following questions: 1. Create the probability distribution table for XX :  XX  outcome payoff xx ,$  P(X=x)P(X=x)    win       loss     2. Use the probability distribution table to find the following:  E[X]=μX=E[X]=μX= dollars. (Round the answer to 2 decimal places.)  SD[X]=σX=SD[X]=σX= dollars. (Round the answer to 1 decimal place.)

Anthony is offered to place a $13 bet on a certain event the probability of which happening is estimated to be 80%. In case of the event occurring Anthony will receive a total of $20. Let XX  be the Anthony's winnings from the bet. Answer the following questions: 1. Create the probability distribution table for XX :  XX  outcome payoff xx ,$  P(X=x)P(X=x)    win       loss     2. Use the probability distribution table to find the following:  E[X]=μX=E[X]=μX= dollars. (Round the answer to 2 decimal places.)  SD[X]=σX=SD[X]=σX= dollars. (Round the answer to 1 decimal place.)

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Anthony is offered to place a $13 bet on a certain event the probability of which happening is estimated to be 80%. In case of the event occurring Anthony will receive a total of $20. Let XX  be the Anthony's winnings from the bet. Answer the following questions:

1. Create the probability distribution table for XX :

 XX  outcome payoff xx ,$  P(X=x)P(X=x) 
  win    
 

loss

    

2. Use the probability distribution table to find the following:

    1.  E[X]=μX=E[X]=μX= dollars. (Round the answer to 2 decimal places.)
    2.  SD[X]=σX=SD[X]=σX= dollars. (Round the answer to 1 decimal place.)
Expert Solution
Step 1:-

Given that the probability of winning is 0.80 

If he wins he'll get $20 otherwise he losses $13. 

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