Question

What is the standard deviation, measuring the variability of the variable consisting of summing up wins and losses from both games, X + Y?

Round to two places.

Question 8 (1 point) ?--$0.17 o- $2.61 Die roll Payoff, X, in P(x) 0.1667 0.1667 0.1667 0.1667 0.1667 0.1667 Hy$0.08 Card Payoff, Y, in $ P(Y) Any Queen $0.75 0.0769 Any Jack Any other card Any ace Any King $1.25 0.0769 0.0769 $0.50 0.6923 $1.00 $0.50 0.0769 Twelve year old Johnny has decided to start a gambling business out of his garage. During the first month of operations Johnny offers two games of chance, one involving dice, and the other a deck of cards. The dice game consists of throwing a single die and if the numbers 1-5 appear then the person playing the game receives a dollar otherwise, if a six appears the person owes Johnny six dollars. For the card game if any ace, king, queen or ack appear the player receives an amount of money depending on the card they drew; if any other card appears the owe Johnny 50 cents What is the standard deviation, measuring the variability of the variable consisting of summing up wins and losses from both games, X+Y? Round to two decimal places

Answer 1