SOLUTION: Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $6. If you roll a 4 or 5, you win $3. Otherwise, you pay $5. a. Complete t

Question 1125820: Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $6. If you roll a 4 or 5, you win $3. Otherwise, you pay $5.
a. Complete the PDF Table. List the X values, where X is the profit, from smallest to largest. Round to 4 decimal places where appropriate.
Probability Distribution Table
X P(X)
b. Find the expected profit. $
(Round to the nearest cent)
Answer by kasperk(4) (Show Source): You can put this solution on YOUR website!
Part a:

X = profit.......P(X)
----------------------
+$6.................1/6
+$3.................2/6 = 1/3
-$5.................3/6 = 1/2

Part b:
Expected profit = +$6(1/6) + $3(1/3) + -$5(1/2) = -$0.50

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