Solved: Over the long run of playing this game what are your, Basic Statistics

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Over the long run of playing this game what are your

Question: Suppose that you are offered the following "deal." You roll a die. If you roll a six, you win $10. If you roll a four or five, you win $5. If you roll a one, two, or three, you pay $6.

a. What are you ultimately interested in here (the value of the roll or the money you win)?

b. In words, define the Random Variable X.

c. List the values that X may take on.

d. Construct a PDF.

e. Over the long run of playing this game, what are your expected average winnings per game?

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Basic Statistics: Over the long run of playing this game what are your

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