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stataccsamplelongexam2 Fromanurnthatcontainsfivered,fivewhite,andfivebluechips,wedrawtwochipsatrandomwithoutreplacement.Foreachbluechipwehaveanetgainof$1,foreachwhitechipwehaveanetgainof$2butforeachredchipwehaveanetloss$3.IfXrepresentsthenetamountthateitherwewinorlose, stataccsamplelongexam2 (a) Write down the probability distribution function of X. (b) Calculate the expected value of X. Is this a fair game?
stataccsamplelongexam2
- Fromanurnthatcontainsfivered,fivewhite,andfivebluechips,wedrawtwochipsatrandomwithoutreplacement.Foreachbluechipwehaveanetgainof$1,foreachwhitechipwehaveanetgainof$2butforeachredchipwehaveanetloss$3.IfXrepresentsthenetamountthateitherwewinorlose,
- (a) Write down the probability distribution function of X.
- (b) Calculate the expected value of X. Is this a fair game?
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