Probability Theory, Exercise, Solutions, Mathematics.
dollars per play but with low variance. From a risk management perspective, which mode should be chosen? Solutions 1. (a) A. Average Value (b) B. The average difference between values of a random variable 2. (a) The expected value of a fair six-sided die is (1+2+3+4+5+6)/6 = 3.5. (b) The variance