Question

Two balls are chosen randomly from an um containing 8 white, 4 black,and 2 orange balls. Suppose that we win $2 for each black ball selected and we lose $1for each white ball selected. LetXdenote our winnings. What are the possible values o fX, and what are the probabilities associated with each value?

Answer 1

See explanation.

Explanation:

The possible values of fx are 2, 0, -1, you either win $2, win $0, or lose $1.

The probability of winning $2 is the probability of selecting a black ball, so it is 4/14 or 2/7.

The probability of not earning any money is the probability of an orange ball being selected, so its 2/14 or 1/7.

The probability of losing $1 is the probability of a white ball being selected, so it is 8/14 or 4/7.