Make a table with x-column money to winlose

Statistics

An urn contains 4 green, 6 blue and 10 yellow chips. You pay $5 to draw a chip from the urn. Here are the rules of the game:

if you draw a green chip, the dealer returna you your bet and gives you an additional $5.

if you draw a blue chip, the dealer returns you your bet ad gives you $1.

if you draw a yellow chip, the dealer keeps your $5.

What is the expected value of this game?

Tip: Make a table with x-column money to win/lose (+/-) and probability lumn P(x)that this happens, then find out Expected Value of x E(x) for this distribution.

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Category:- Statistics and Probability
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