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…

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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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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