At a back-to-school party, one of your friends lets you play a two-stage game where you pay $3 to play. The game works as

Question

At a back-to-school party, one of your friends lets you play a two-stage game where you pay $3 to play. The game works as follows: flip a fair coin, noting the side showing, and roll a fair standard 4-sided die (numbered 1-4), noting the number showing. If the die shows a 3 and the coin shows tails, then you win $20. If the coin shows heads and the die shows an even number, then you win $7. Otherwise, you do not win anything.
Let X be your net winnings.
(a) Create a probability distribution for X. Enter the possible values of X in ascending order from left to right. All probabilities should be exact.
(b) Compute your expected net winnings for the game. Round your answer to the nearest cent.
(c) Is this game fair?
Yes
No

Kunduz · Accepted Answer

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