# Question: In the casino game called high low there are three possible

In the casino game called high–low, there are three possible bets. Assume that $1 is the size of the bet. A pair of fair six-sided dice is rolled and their sum is calculated. If you bet low, you win $1 if the sum of the dice is {2, 3, 4, 5, 6}. If you bet high, you win $1 if the sum of the dice is {8, 9, 10, 11, 12}. If you bet on {7}, you win $4 if a sum of 7 is rolled. Otherwise, you lose on each of the three bets. In all three cases, your original dollar is returned if you win. Find the expected value of the game to the bettor for each of these three bets.

## Answer to relevant Questions

Suppose that a school has 20 classes: 16 with 25 students in each, three with 100 students in each, and one with 300 students, for a total of 1000 students. (a) What is the average class size? (b) Select a student randomly ...To find the variance of a hyper-geometric random variable in Example 2.3-4 we used the fact that Prove this result by making the change of variables k = x − 2 and noting that Let X equal the larger outcome when a pair of fair four-sided dice is rolled. The pmf of X is Find the mean, variance, and standard deviation of X. It is claimed that 15% of the ducks in a particular region have patent schistosome infection. Suppose that seven ducks are selected at random. Let X equal the number of ducks that are infected. (a) Assuming independence, how ...The pdf of X is f(x) = c/x2, 1 < x < ∞. (a) Calculate the value of c so that f(x) is a pdf. (b) Show that E(X) is not finitePost your question