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Probability: central tendency measures

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You pay $6 to play a game where you will roll a die, with a payoff as follows: $8 for a 6, $7 for a 5, and $4 for any other result. What are your expected winnings? Is the game fair?

Find the mean for: 105, 108, 110, 115, 106, 110, 104, 113, 117.

Find the median and mode (or modes) for: 32, 35, 36, 44, 46, 46, 59.

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Solution Summary

The solution finds the mean, median and mode for given data and expected value for a random variable.

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Let the random variable X: ( 8 7 4 )
1/6 1/6 ...

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Chris Busu, PhD (IP)
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  • MSc, Ovidius
  • MSc, Stony Brook
  • PhD (IP), Stony Brook
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