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Suppose I roll two six-sided dice and offer to pay you $10 times the sum of the numbers showing., if I roll a 4 and a 5, I will pay you $10 * (5+4)...
1. Suppose I roll two six-sided dice and offer to pay you $10 times the sum of the numbers showing. (e.g., if I roll a 4 and a 5, I will pay you $10 * (5+4) = $90). The probability chart for each roll is given:
Roll 2 Probability 0.027778 Roll 3 Probability 0.055556 Roll 4 Probability 0.083333 Roll 5 Probability 0.111111 Roll 6 Probability 0.138889
Roll 7 Probability 0.166667 Roll 8 Probability 0.138889 Roll 9 Probability 0.111111 Roll 10 Probability 0.083333 Roll 11 Probability 0.055556
Roll 12 Probability 0.027778
1. Now we are going to play the game 100 times. Each time I will pay you $100 times the
A) What is the expected total payment to you (the sum of all 100 games)?
B) What is the standard deviation of your payout?
C) What is the probability you will earn more than $6200?
D) What is the probability you will earn less than $7200?
E) What is the probability you will earn between $6400 and $6850?
