In roulette, Fig. 32.2, the wheel has 13 numbers 0,1,2,….,12 marked on equally spaced slots. A player sets ₹10 on a given number. He receives ₹100 from the organizer of the game if the ball comes to rest in this slot; otherwise he gets nothing. If X denotes the player’s net gain/loss, find E (X).
As player sets Rs 10 on a number ,if he wins he get Rs 100
∴ his profit is Rs 90.
If he loses, he suffers a loss of Rs 10
He gets a profit when ball comes to rest in his selected slot.
Total possible outcome = 13
Favourable outcomes = 1
∴ probability of getting profit = 1/13
And probability of loss = 12/13
If X is the random variable denoting gain and loss of player
∴ X can take values 90 and -10
P(X=90) = 1/13
And P(X=-10) = 12/13
Now we have pi and xi.
Let’s proceed to find mean
Mean of any probability distribution is given by Mean = ∑xipi
∴ first we need to find the products i.e. pixi and add them to get mean
Following table representing probability distribution gives the required products :
E(X) = Mean =