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Suppose you model a game of chance with a discrete probability distribution. LetX X be the net amount of money won or lost by the
Suppose you model a game of chance with a discrete probability distribution. LetX
X
be the net amount of money won or lost by the player. LetP
(
X
)
P(X)
be the probability of the corresponding outcome. The three events are as follows:
There is a 23% chance the player wins 10 dollars.
There is a 45% chance the player breaks even.
There is a 32% chance the player loses 9 dollars.
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