Question

A fair die is rolled once. If it lands six, you win $4. However, you lose $1 if it does not land six. Let M denote the amount of money you win. Find the distribution for M. g

Answer 1

m : ____ $4 ______ - $1

P(m) : __ 0.167 ____ 0.833

Explanation:

Given that:

Fair dice is rolled once;

Winning = $4, if output is 6

If otherwise ; winning = - $1

M = amount of money won :

Distribution of M:

The amount of money won (M) is either :

$4 or - $1

Distribution of M:

Possible outcome : {1, 2, 3, 4, 5, 6}

P(winning $4) = P(rolling a 6)

Probability = number of required / number of total possible outcomes

= 1/ 6

P(losing $1) = P(not rolling a 6)

= 1 - P(rolling a 6)

= 1 - 1 /6

= 5/6

m : ____ $4 ______ - $1

P(m) : __ 0.167 ____ 0.833