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In the gambling game chuck-a-luck, for a $1 bet it is

Probability and Statistical Inference | 9th Edition | ISBN: 9780321923271 | Authors: Robert V. Hogg, Elliot Tanis, Dale Zimmerman ISBN: 9780321923271 41

Solution for problem 7E Chapter 2.2

Probability and Statistical Inference | 9th Edition

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Probability and Statistical Inference | 9th Edition | ISBN: 9780321923271 | Authors: Robert V. Hogg, Elliot Tanis, Dale Zimmerman

Probability and Statistical Inference | 9th Edition

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Problem 7E

In the gambling game chuck-a-luck, for a $1 bet it is possible to win $1, $2, or $3 with respective probabilities 75/216, 15/216, and 1/216. One dollar is lost with probability 125/216. Let X equal the payoff for this game and find E(X). Note that when a bet is won, the $1 that was bet, in addition to the $1, $2, or $3 that is won, is returned to the bettor.

Step-by-Step Solution:

Solution :

Step 1 of 2:

Here in a gambling game for a $1 bet it is possible to win $1, $2, and $3 with probabilities 75/2716, 15/216,1/216 respectively. On dollar can lost with probability 125/216. When a bet is won for $1 then it will add to the amount $1,$2, or $3 that is one , and it will return to the bettor.If X defined the payoff for this game then we have to find the expected payoff for the game  E(x).


Step 2 of 2

Chapter 2.2, Problem 7E is Solved
Textbook: Probability and Statistical Inference
Edition: 9
Author: Robert V. Hogg, Elliot Tanis, Dale Zimmerman
ISBN: 9780321923271

Probability and Statistical Inference was written by and is associated to the ISBN: 9780321923271. This textbook survival guide was created for the textbook: Probability and Statistical Inference , edition: 9. Since the solution to 7E from 2.2 chapter was answered, more than 519 students have viewed the full step-by-step answer. The answer to “In the gambling game chuck-a-luck, for a $1 bet it is possible to win $1, $2, or $3 with respective probabilities 75/216, 15/216, and 1/216. One dollar is lost with probability 125/216. Let X equal the payoff for this game and find E(X). Note that when a bet is won, the $1 that was bet, in addition to the $1, $2, or $3 that is won, is returned to the bettor.” is broken down into a number of easy to follow steps, and 71 words. The full step-by-step solution to problem: 7E from chapter: 2.2 was answered by , our top Statistics solution expert on 07/05/17, 04:50AM. This full solution covers the following key subjects: bet, won, Game, Lost, dollar. This expansive textbook survival guide covers 59 chapters, and 1476 solutions.

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In the gambling game chuck-a-luck, for a $1 bet it is