University of Minnesota ECON 3101 - PS1 4. (POINTS: 15) Consider the experiment of rolling a 6 sided dice twice in a row and sum the outcomes. (a) List all the possible events. (Points: 5) Answer: (b) Are all events equiprobable, that is, all events have the same probability of occurring? If yes, explain. If not, provide a counterexample. (Points: 5) Answer (c) Calculate the expected value of this event (your solution can be a fraction). (Points: 5) Answer 23 2 190 9 90/40 8 2021-09-University of Minnesota ECON 3101 - PS1 (e) Plot in your graph the solution found for items (a) and (b), and argue whether or not they could be solutions to the above problem. (Points: 10) Answer: (f) Write a similar problem to the one above, such that both have the same solutions (Points: 5) Hint: Use your answer in part (e) to understand how (Ineq ) and (Ineq2) are satisfied at the solution. Answer: 28 2 2021-09