Elementary Statistics: A Step-by-Step Approach with Formula Card 9th Edition

Published by McGraw-Hill Education
ISBN 10: 0078136334
ISBN 13: 978-0-07813-633-7

Chapter 5 - Discrete Probability Distributions - 5-2 Mean, Variance, Standard Deviation, and Expectation - Exercises 5-2 - Page 273: 13

Answer

For a game to be fair, E(X) must be 0 From table, we have ⅙ *5 + ⅚ *X =1 X=⅚ / ⅚ = 1 Each game should pay for $1 to make the game fair

Work Step by Step

The sum of pair that has different number = 30 The sum of pair that has same number = 6
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