For Exercises 17–24, use the given information to do the following for the indicated random variable :
19. Joshua is going to make it big on Wall Street, if only he can graduate from college first. Joshua has invested money in a high-risk mutual fund, and has figured his probability of losing $10,000 to be one-third, his probability of gaining $10,000 to be one-half, and his probability of gaining $50,000 to be one-sixth. Let .
6.1.19
(a)
−$10,000 | $10,000 | $50,000 | |
1/3 | 1/2 | 1/6 |
(b)