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Home Q & A Board Science-Related Homework Help Mathematics
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portis portis
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8 years ago
A gambler claimed that he had loaded a die so that it would hardly ever come up 1. He said the outcomes of 1, 2, 3, 4, 5, 6 would have probabilities (1/20,), (1/6), (1/6), (1/6), (1/6), (1/6) respectively.  Can he do what he claimed? Why or why not? Is a probability distribution described by listing the outcomes along with their corresponding probabilities? Why or why not?
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wrote...
#1
8 years ago
No, because the sum of all probabilities must equal one.
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#2
Educator
6 years ago
A game is said to be "fair" if the expected value for winnings is 0, that is, in the long run, the player can expect to win (or lose) $0.

Consider the following game. The game costs $1 to play and the winnings are $5 for red, $3 for blue, $2 for yellow and nothing for white. The following probabilities applyl. What are your expected winnings? Does the game favor the player or the owner?
Outcome Probability
Red .02
Blue .04
Yellow .16
White .78

E(x) = 0.02*4 + 0.04*2 + 0.16*1 + 0.78*(-1)
= -0.46

Game favors the owner.
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