December 1, 2015

Homework Help: Math

Posted by Anastasia on Thursday, December 13, 2007 at 12:32am.

A carnival game consists of rolling a single fair die, with the following results: you win $8 for a 6, $7 for a 5, and lose $3 for any other number. Set a probability distribution, and calculate (already did) the

Expected value = .50
Variance= 24.58
standard deviation= 4.96

What fee should be charged to make it a fair game?

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