Bart found 20 quadrilaterals in his classroom. He made a Venn diagram using the properties of the quadrilaterals, comparing thos
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Answer: The mean and variance of Y are $0.25 and $6.19 respectively.
Step-by-step explanation:
The scenario is as follows: You and a friend participate in a game involving tossing a fair coin.
The sample space for tossing two coins is {TT, HT, TH, HH}
Let Y represent the earnings from one round of the game.
If both faces are heads, you win $1; therefore, P(Y=1)=P(TT)=
You win $6 if both faces are heads, so P(Y=6)=P(HH)=
If the faces do not match, you lose $3 which means P(Y=1)=P(TH, HT)=
To find the expected value to win: E(Y)=
Thus, the mean of Y: E(Y)= $0.25
Variance =
Therefore, variance of Y = $ 6.19