A four-sided die is loaded in a way that each even face is twice as likely as
Question:
A four-sided die is loaded in a way that each even face is twice as likely as each odd a. Construct a probabilistic model for a single roll of this die and find the probability that the b. You are offered the following game: The entrance fee is $1 and this die is rolled for 576 All even faces are equally likely, as are all odd faces outcome is no larger than 3. times with the number of times of observing a number less than or equal to two counted If this number is more than 312 or less than 264, you win $10.
1. What is the distribution that, Y-the number times of observing a number less than or equal to two, is following?
2. Write down the exact formula for your probability of winning and losing
3. Make your decision on wether to play or not and justify your answer by approximating the expected winning per game.
Statistics Principles and Methods
ISBN: 978-0470904114
7th edition
Authors: Richard A. Johnson, Gouri K. Bhattacharyya