Bob is gambling in the casino. The probability that he will win nothing is 0.2. The...
Bob is gambling in the casino. The probability that he will win nothing is 0.2. The probability that he will
win $10 is 0.3. The probability that he will win $20 is 0.5. What is the mean amount Bob will win?
Homework Answers
from above probability distribution of Bob net gain:
P(X=0)=0.2
P(X=10)=0.3
P(X=20) =0.5
mean amount Bob will win E(x) =
xP(x)
=0*0.2+10*0.3+20*0.5 =13
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