Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $14. Ifyou roll a 3, 4 or 5, you win $5. Otherwise, you pay $6.a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4decimal places where appropriate.Probability Distribution TableX.P(X)-6of.3333.5141667b. Find the expected profit. $ 1.00X (Round to the nearest cent)c. Interpret the expected value.O If you play many games, on average, you will likely win, or lose if negative, close to this amount.O You will win this much if you play a game.O This is the most likely amount of money you will win.d. Based on the expected value, should you play this game?O Yes, since the expected value is 0, you would be very likely to come very close to breaking even ifDELLesc->#32$34.6Wey5.

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Description: Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $14. Ifyou roll a 3, 4 or 5, you win $5. Otherwise, you pay $6.a. Complete the PDF Table. List the X values, where X is the profit, from smallest t

Given Information: You roll a size sided die. If you roll a 6, you win $14. If you roll a 3, 4 or 5…

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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 $14. If you roll a 3, 4 or 5, you win $5. Otherwise, you pay $6. 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 P(X) 3333 of 5 of 14 of 1667 b. Find the expected profit. $ 1.00 x (Round to the nearest cent)

Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $14. If you roll a 3, 4 or 5, you win $5. Otherwise, you pay $6. 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 P(X) 3333 of 5 of 14 of 1667 b. Find the expected profit. $ 1.00 x (Round to the nearest cent)

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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Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

Topic Video

Question

Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $14. If
you roll a 3, 4 or 5, you win $5. Otherwise, you pay $6.
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)
-6
of
.3333
.5
14
1667
b. Find the expected profit. $ 1.00
X (Round to the nearest cent)
c. Interpret the expected value.
O If you play many games, on average, you will likely win, or lose if negative, close to this amount.
O You will win this much if you play a game.
O This is the most likely amount of money you will win.
d. Based on the expected value, should you play this game?
O Yes, since the expected value is 0, you would be very likely to come very close to breaking even if
DELL
esc
->
#3
2$
3
4.
6
W
e
y
5.

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