4. In Craps, people bet on the sum of two fair, 6-sided dice. A bet on the roll of 11 is called a 'yo 11" (at the craps table, you will hear people calling for a "lucky yo", meaning they want an 11 rolled). The payout for "yo 11" is 15:1. This means that if you bet $1 and win, you will receive your $1 back plus $15 from the casino. a. You decide to bet $1 on "yo 11". Fill in the probability distribution for your profit. Outcome (Words) Profit Probability yo- 1 15-1=14 36 = 12 1 6, 5), ( 5, 0 ) not 0 - 1= -1 1- 78 = 14 b. Find the expected value of your profit (give 3 decimal places). . 722 &= P(X ) 4x5 - 1x172 -13 = 0,722 c. What is the house edge (write as a percent) House edge = exp profit Inital bet Candy = 9:$22 X100% = (7.221 d. If you bet $100 on "yo 11", how much would you expect to gain or lose?. e. Explain why this is not a fair game