If i were to invite you to play

Assignment Help Basic Statistics

Reference no: EM13155419

Consider rolling one (six-sided) fair die and tossing one (two-sided) fair coin. If the coin turns up heads, then the number of spots showing on the die is the score of that trial. If the coin turns up tails, then twice the number of spots showing on the die is the value for that trial. In other words, if the coin-toss results in a head and the die lands showing a 4 face up, then the score is 4 points for that trial. If the coin were to land tails up and the die landed a 4 face up, then the score of that trial will be 8 points. Determine the possible outcomes in the sample space and construct a probability distribution table. Once that is completed you are to find the expected
value of the following experiment. If I were to invite you to play the above game where I would pay you your score in dollars (1 point = 1 dollar), what should I charge you to play? Using that ticket price, how many games would have to be played in order for me to have an expected profit of $100.00?

Reference no: EM13155419

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