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A person tosses a coin and is to receive Rs. 4 for a head and is to pay Rs. 2 for a tail. Find expectation and variance of his gains.
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Solution | |
Let "x" indicate the amount gained by the person [Since you are required to find the expectation of the players gain, the variable would represent the players gain] The amount that the player can gain would be
⇒ The values carried by the variable ("x") would be either + 4 or − 2
"X" represents the random variable and P(X = x) represents the probability that the value within the range of the random variable is a specified value of "x" Probabilty that the coin shows up a
Probability for the persons gain to be
The probabilty distribution of "x" would be
Calculations for Mean and Standard Deviations
The persons expected gain
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Credit : Vijayalakshmi Desu |