Random Variables and Discrete Probability Distributions

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For our raffle example, can we use our expected prize calculation to determine the expected winnings? • Since we know that the expected prize for someone buying a ticket for our raffle is $0.83, all we have to do is take into account her/his having paid $1 for the ticket. �� Recall: Winnings = Value of Prize – Cost of Ticket
For our raffle example, can we use our expected prize calculation to determine the expected winnings? • Since we know that the expected prize for someone buying a ticket for our raffle is $0.83, all we have to do is take into account her/his having paid $1 for the ticket. • Expected Winnings = Expected Prize - $1 = 0.83 – 1 = -0.17 0.17
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Random Variables and Discrete Proba
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Random Variable • A random variab
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Random Variable • A discrete rand
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Random Variable • A continuous ra
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Probability Distribution for a Disc
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What is the probability distributio
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Did you notice that each example me
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Requirements for a probability dist
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Requirements for a probability dist
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Did you notice that if the examples
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Did you notice that if the examples
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Notation • For clarity, we will u
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Does the table below represent a pr
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Probability Histogram • As with a
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Raffle Example • Although there a
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Raffle Example • Since not not wi
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Raffle Example • Next, we determi
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Raffle Example • Finally, we comp
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Raffle Example Probability Distribu
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Raffle Example • We do not need t
Page 95 and 96: Raffle Example • Winnings Winning
Page 97 and 98: Raffle Example • Alternate Altern
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Page 105 and 106: Raffle Example • Note: The point
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Page 111 and 112: Expected Value for a Discrete Rando
Page 119 and 120: How many Heads should we expect if
Page 125 and 126: What is the expected value for the
Page 131 and 132: What is the expected prize for our
Page 137 and 138: What are the expected winnings for
Page 143 and 144: For our raffle example, can we use
Page 145: For our raffle example, can we use
Page 149 and 150: Variance and Standard Deviation for
Page 151 and 152: What is the standard deviation for
Page 167: Variance and Standard Deviation for
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Random Variables and Discrete Probability Distributions

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