The following dice game costs $10 to play. If you roll 1, 2, or 3, you lose
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The following dice game costs $10 to play. If you roll 1, 2, or 3, you lose your money. If you roll 4 or 5, you get your money back. If you roll a 6, you win $24.
(a) Find the distribution of your winnings W.
(b) Find the expected value of the game.
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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