In Las Vegas, a certain game #1 is described by the random variable X. The PMF i
ID: 3179179 • Letter: I
Question
In Las Vegas, a certain game #1 is described by the random variable X. The PMF is described by
Thus, for this game #1 we win 6 cents if the nickel lands on heads, lose 4 cents if the nickel lands on tails, and we lose $50.00 if the nickel lands on its side.
In Las Vegas, a certain game #2 is described by the random variable X. The PMF is described by
Thus, for this game #2 we win 4 cents if the nickel lands on heads, lose 7 cents if the nickel lands on tails, and we win $60.00 if the nickel lands on its side.
a) How much money do we win in game #1 in one day if we play 1000 times?
b) How much money do we win in game #2 in one day if we play 1000 times?
5999/12000 k 0.06 Pr k 5999/12000 k 0.04 1 5000 k 50.00Explanation / Answer
a)here expected money won in one game=(5999/12000)*0.06-(5999/12000)*0.04-(1/6000)*50=0.00167
hence money won in 1000 games =0.00167*1000=$1.67
b)here expected money won in one game=(5999/12000)*0.04-(5999/12000)*0.07+(1/6000)*60=-0.00500
hence money won in 1000 games =-0.00500*1000=-$5.00
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