Reference no: EM132856952

1) In a game, three standard dice are rolled and the number of odd values that appear is used to advance your game piece (for example, the roll 2-3-1 would advance your game piece two spaces). Produce a probability distribution for this experiment.

2) Compute the MEAN of your distribution from above.

3) Compute the STANDARD DEVIATION. (round and express to 2 decimal places, 0.xx)

4) A game is played as follows: A player places a bet. Then, she rolls a 20-sided die with the numbers 1 - 20 on it. If the die lands on an even number, the player wins $5. If the die lands on a 1, 5, 7, or 13, the player wins $10. Otherwise, the player loses. If it costs $3.50 to bet, what is the expected value of this game? (answer in dollars, but leave off the)

5) In the game described in the problem above, how could the winnings be adjusted in order to make this a fair game with a $3.50 bet?