Question:Your friend asks you to play a gambling game. If you give her $1,
you get...
Question
Your friend asks you to play a gambling game. If you give her $1,
you get...
Your friend asks you to play a gambling game. If you give her $1,
you get to roll two dice. If you get a total of 11 or 12, she will
give you a $5 bill. If your total is 7 she will give back your $1.
Otherwise she keeps your $1. Let X be your overall gain after one
round.
a) Construct the probability distributio table for X.
b) Compute E(X).
c) If you started with $1000, how much money would you expect
to have after playing this game 1000 times?