1. Suppose a bookie will give you $8 for every $2 you risk if you pick the winners in three games of a sport on a"parlay" card. Thus, for every $2 bet, you will either lose $2 or gain $6. What is the bookie\'s expected earnings per dollar wagered? (Note the odds of winning and losing on a particular game are thesame.)

The bookie\'s expected value for a $2 bet for three games is approximately what $?

2.

x   p(x)
10   0.2
11   0.1
12   0.3
13   0.2
14   0.2

a. Find

P(xless than or equals≤12)

b. Find P(xgreater than>12).

c. Find P(xless than or equals≤14).

d. Find P(xequals=14).

e. Find P(xless than or equals ≤ 11 or xgreater than>12).