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Not your average video:
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Exam Preparation: Complete unit reviews designed for final exam preparation with all key concepts covered systematically.
Expert Teaching: High-quality instruction from Perplex co-founder James Mullen with clear explanations, worked examples, and exam tips.
Distributions & Random Variables
Watch comprehensive video reviews for Distributions & Random Variables, designed for final exam preparation. Each video includes integrated problems you can solve alongside detailed solutions.
Not your average video:
Interactive Problems: Solve problems alongside the video with step-by-step guidance and detailed solutions.
Exam Preparation: Complete unit reviews designed for final exam preparation with all key concepts covered systematically.
Expert Teaching: High-quality instruction from Perplex co-founder James Mullen with clear explanations, worked examples, and exam tips.
Not your average video:
Interactive Problems: Solve problems alongside the video with step-by-step guidance and detailed solutions.
Exam Preparation: Complete unit reviews designed for final exam preparation with all key concepts covered systematically.
Expert Teaching: High-quality instruction from Perplex co-founder James Mullen with clear explanations, worked examples, and exam tips.
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SL 4.7
In probability, a game is a scenario where a player has a chance to win rewards based on the outcome of a probabilistic event.
The rewards that a player can earn follow a probability distribution, for example X, that governs the likelihood of winning each reward.
For example, a simple game might be one where a player rolls a balanced 6-sided dice, and wins the value of their roll in dollars.
The expected return is the reward that a player can expect to earn, on average. It is given by E(X), where X is the probability distribution of the rewards.
Games can also have a cost, which is the price a player must pay each time before playing the game.
If the cost is equal to the expected return, the game is said to be fair.
Example
A player rolls a fair 6 sided dice, and wins the value of their roll in dollars. Find the cost to play, C, in dollars given that the game is fair.
The expected return is
or 3.5$.
SL 4.7
In probability, a game is a scenario where a player has a chance to win rewards based on the outcome of a probabilistic event.
The rewards that a player can earn follow a probability distribution, for example X, that governs the likelihood of winning each reward.
For example, a simple game might be one where a player rolls a balanced 6-sided dice, and wins the value of their roll in dollars.
The expected return is the reward that a player can expect to earn, on average. It is given by E(X), where X is the probability distribution of the rewards.
Games can also have a cost, which is the price a player must pay each time before playing the game.
If the cost is equal to the expected return, the game is said to be fair.
Example
A player rolls a fair 6 sided dice, and wins the value of their roll in dollars. Find the cost to play, C, in dollars given that the game is fair.
The expected return is
or 3.5$.