Answer:
The objective of the problem is obtained below:
From the information, an urn consists of, 4 black, 2 orange balls and 8 white.
The person loses $1 for each white ball selected, no money is lost or gained for any orange balls picked and win $2 for each black ball selected. Let the random variable X denotes the winnings.
No winnings probability= 0.011
Probability of winning $1=0.3516
Probability of winning $2= 0.0879
Probability of winning $4= 0.0659
