1. The expectation is the mean or average of the value of a random variable. In throwing a die, for.

1. The expectation is the
mean
or
average of the value of a random variable. In throwing a die, for example, it
can be calculated by totaling up the resulting values from a large number of throws
and then dividing by the number of throws. What is:

a. the expectation from throwing a fair die?

b. the value of a roulette wheel with 37 equally
likely results?

c. the value of a draw from a set of cards (ace is
valued at 1, all other face cards as 10)?

2. Suppose that we are playing a game where we toss
a die and then receive the amount of dollars equal to the value of the die. For
example,

1. The expectation is the
mean
or
average of the value of a random variable. In throwing a die, for example, it
can be calculated by totaling up the resulting values from a large number of throws
and then dividing by the number of throws. What is:

a. the expectation from throwing a fair die?

b. the value of a roulette wheel with 37 equally
likely results?

c. the value of a draw from a set of cards (ace is
valued at 1, all other face cards as 10)?

2. Suppose that we are playing a game where we toss
a die and then receive the amount of dollars equal to the value of the die. For
example, if a 3 comes up we receive \$3. If it costs us \$4 to play this game, is
this reasonable?

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