Q 1(i) A die is tossed twice ,write all possible outcome called sample space .

Two dice possible outcomes =36

(1,1)(1,2)(1,3)(1,4)(1,5)(1,6)

(2,1)(2,2)(2,3)(2,4)(2,5)(2,6)

(3,1)(3,2)(3,3)(3,4)(3,5)(3,6)

(4,1)(4,2)(2,3)(4,4)(4,5)(4,6)

(5,1)(5,2)(5,3)(5,4)(5,5)(5,6)

(6,1)(6,2)(6,3)(6,4)(6,5)(6,6)

(ii)Write all possible values of sum of outcome on first die and on second die.

(1,1)= 2, (1,2)=3, (1,3)=4 ,(1,4)=5, (1,5)=6 ,(1,6)=7

(2,1)=3, (2,2)=4, (2,3)=5, (2,4)=6, (2,5)=7, (2,6) =8

(3,1)=4, (3,2)=5, (3,3)=6, (3,4)=7, (3,5)=8, (3,6)=9

(4,1)=5, (4,2)=6, (2,3)=5, (4,4)=8, (4,5)=9, (4,6)=10

(5,1)=6, (5,2)=7, (5,3)=8, (5,4)=9, (5,5)=10, (5,6)=11

(6,1)=7, (6,2)=8, (6,3)=9, (6,4)=10, (6,5)=11, (6,6)=12

(ii) Compute proportion of points for each sum (see class lectures).

P(x+y=2) = 1/36 P(x+y=8) =5/36

P(x+y=3) =2/36 P(x+y=9) =4/36

P( x+y=4) = 3/36 P(x+y=10) =3/36

P(x+y=5) = 4/36 P(x+y=11) =2/36

P(x+y=6) =5/36 P(x+y=12) =1/36

P(x+y=7) =6/36

(iii) Discuss and sole Exercise 1.1 of the book Principles of Actuarial Science by
Michael Sherris pp2.Also see link

http://mathforum.org/isaac/problems/prob1.html

Solution : For a single throw, the odds of throwing a six are 1:5 since there is a 1/6
chance of throwing a six. If a stake is S, and gambler gives up a throw then the
stake should be divided in the ratio 1:5. The gambler will win if she throws at least
5 8 390625
one six in eight throws. The probability of no sixes in eight throws is ( ) = 1679616
6
8
so that the probability she will be successful in eight throws is 1 -( 56 ) =
1288991
1679616
=76743.

(iv) Define Random variable with an example as discussed in class while tossing
two coins.

Random Variable : A random variable is a variable whose values depend on

outcome of an event.

 The outcome of a coin toss is a common example of a random variable.

Consider a probability distribution where the outcomes of a random
occurrence are not equally likely. If the random variable, Y, is the number
of heads obtained by tossing two coins, then Y may be 0, 1, or 2. This
means that a two-coin toss could result in no heads, one head, or both
heads. However, the two coins land in four different ways: TT, HT, TH, and
HH. Therefore, the P(Y=0) = 1/4 since we have one chance of getting no
heads (i.e., two tails [TT] when the coins are tossed). Similarly, the
probability of getting two heads (HH) is also 1/4. Notice that getting one
head has a likelihood of occurring twice: in HT and TH. In this case, P (Y=1) =
2/4 = 1/2.