Question

Suppose you are offered the following "deal." You roll a die. If you roll a six,...

Suppose 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. Based on numerical values, should you take the deal? Explain your decision. Consider the following questions as you make your decision:

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

-In words, define the random variable X.

- List the values that X may take on.

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

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