Use Random-Variable Notation to Represent the Event $\{ X \geq 3 \}$

question 88

Multiple Choice

Use random-variable notation to represent the event.
-Suppose a coin is tossed four times. Let X denote the total number of tails obtained in the four tosses. Use random-variable notation to represent the event that the total number of tails is three.

• A) HTTT, THTT, TTHT, TTTH
• B) \(\{ X \geq 3 \}\)
• C) \(\mathrm { P } \{ \mathrm { X } = 3 \}\)
• D) \(\{ X = 3 \}\)

---

Definitions:

Rule Of 70

A simple way to estimate the number of years it takes for an amount to double, by dividing the number 70 by the annual growth rate percentage.

Interest

The cost of borrowing money or the return on investment for savings and investments, typically expressed as an annual percentage rate.

Risk Averse

Describing individuals or entities that prefer to avoid risk and would rather choose an alternative with a more certain but possibly lower return, than an option with a higher but uncertain return.

Utility Function

A mathematical representation that relates an individual’s consumption bundle to the level of satisfaction or utility derived from it.