Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $18. Ifyou roll a 3, 4 or 5, you win $3. Otherwise, you pay $4.a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4decimal places where appropriate.ProbabilityDistribution TableP(X)b. Find the expected profit. $(Round to the nearest cent)c. Interpret the expected value.You will win this much if you play a game.This is the most likely amount of money you will win.O Ifyou play many games you will likely win on average very close to $3.17 per game.d. Based on the expected value, should you play this game?Yes, because you can win $18.00 which is greater than the $4.00 that you can lose.No, since the expected value is negative, you would be very likely to come home with less money ifyou played many games.Yes, since the expected valueyou played many games.positive, you would be very likely to come home with more money ifYes, since the expected value is 0, you would be very likely to come very close to breaking even ifyou played many games, so you might as well have fun at no cost.No, this is a gambling game and it is always a bad idea to gamble.

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 3, 4 or 5, you win $3. Otherwise, you pay $4. 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. Probability Distribution Table X P(X) b. Find the expected profit. $ (Round to the nearest cent) c. Interpret the expected value. You will win this much if you play a game. O This is the most likely amount of money you will win. O If you play many games you will likely win on average very close to $3.17 per game.

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 3, 4 or 5, you win $3. Otherwise, you pay $4. 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. Probability Distribution Table X P(X) b. Find the expected profit. $ (Round to the nearest cent) c. Interpret the expected value. You will win this much if you play a game. O This is the most likely amount of money you will win. O If you play many games you will likely win on average very close to $3.17 per game.

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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