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What is the expected value of the profit

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Reference no: EM131639555

Question: 1. Dice. What is the expected number of spots observed in rolling a carefully balanced die once?

2. Profit from a risky investment. Rotter Partners is planning a major investment. The amount of profit X is uncertain, but a probabilistic estimate gives the following distribution (in millions of dollars):

Profit:              1        1.5         2         3         10

Probability:      0.3       0.2       0.2       0.2       0.1

What is the expected value of the profit?

Reference no: EM131639555

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