Question

Rework problem 31 in section 4.2 of your text, involving the selection of two numbers. Assume that you select two 3-digit numbers at random from the set of consecutive integers from 000 through 999. The selections are made with replacement and are independent of one another. If the two numbers are the same, you make $300. If they are different, you lose $3. A random variable X is defined as your gain or loss.

How many different values are possible for the random variable X?

Answer 1

The random variable X describes the gain or loss from selecting two three-digit numbers at random. It can have two values: $300 for a win and -$3 for a loss.

Step-by-step explanation:

The student is inquiring about a probability problem involving the selection of two three-digit numbers at random, with the possibility of winning or losing money based on the outcome.

The random variable X represents the gain or loss from this game. If the same number is selected twice, the player wins $300, and if two different numbers are selected, the player loses $3. The random variable X can therefore take on two different values: $300 (win) or -$3 (loss).