(Answered) Question 1 dice what is the expected number of spots

Statistics

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?

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