SOLUTION: 1. Two chips are chosen at random from a box containing 8 blue, 4 green, and 2 orange chips. We win $2 for each green chip selected andwe lose $1 for each blue chip selected. Let X

Algebra ->  Probability-and-statistics -> SOLUTION: 1. Two chips are chosen at random from a box containing 8 blue, 4 green, and 2 orange chips. We win $2 for each green chip selected andwe lose $1 for each blue chip selected. Let X      Log On


   

Question 915405: 1. Two chips are chosen at random from a box containing 8 blue, 4 green, and 2 orange chips. We win $2 for each green chip selected andwe lose $1 for each blue chip selected. Let X denote our winnings.
a) What are the possible values of X?
b) What is the pmf of X?
c) Find E[X] and V ar(X).
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
14 CHIPS: 8B, 4G, 2O
Draw 2
A)
BB, P = +%288%2F14%29%287%2F13%29
B&G, P = %288%2F14%29%284%2F13%29+%2B+%284%2F14%29%288%2F13%29 *
B&O, P = 2%288%2F14%29%282%2F13%29+%29
GG, P = %284%2F14%29%283%2F13%29 *
G&0, P = 2%284%2F14%29%282%2F13%29 *
OO, P = %282%2F14%29%282%2F13%29
E(x) (in dollars) =
Will let You finish Up