Consider the game of craps designed by Econ 261 Hotel students. The game consists of rolling two fair six-sided dice. You win a dollar if the sum of the dots on the two dice is 2, 3, 4, or 5; if the...


Consider the game of craps designed by Econ 261 Hotel students. The game consists of rolling two fair six-sided dice. You win a dollar if the sum of the dots on the two dice is 2, 3, 4, or 5; if the sum of the dots on the two dice is 9, 10, 11, or 12 you lose a dollar. You win nothing, (that is you get $0) if the sum is 6, 7, or 8. The variance of X, Var(X) is what?



Jun 01, 2022
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