Answer Happy

Your friend offers to place a bet with you. He will pay you $4 if the Miami Heat win the basketball game on Tuesday night. But, you will pay him $5 if the Houston Rockets win. The Miami Heat have a 60% chance of winning, whereas the Houston Rockets have a 40% chance. What are your expected winnings for this bet? Round your answer to one decimal place (i.e. -0.6 would indicate an expected winnings of negative 60 cents).

Question 6 1 pts You throw two five-sided dice. Let the random variable X represent the minimum value of the two dice. What would be the maximum amount you would be willing to lose on a bet where you win $1 if X > 2? Round your answer to two decimal places (i.e. -0.62 would indicate an expected winnings of negative 62 cents).

Question 7 Which of the following random variables follow a binomial distribution? 1. The number of blue chips (in a selection of four) selected from a bag with 15 blue chips and 5 red chips II. The number of rainy days in a week. III. The number of times "red" appears in five games of roulette. O I and III Only All of the Above O I Only O III Only 1 pts O II and III Only

Question 8 1 pts You throw a six-sided dice four times. On average, how many times out of four do you expect to observe a number greater than two? Round your answer to two decimal places.