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Chapter 4: Q.4.6 (page 251)

Suppose you play a game with a spinner. You play each game by spinning the spinner once. P(red) = 25, P(blue) = 25, and P(green) = 15. If you land on red, you pay \(10. If you land on blue, you don't pay or win anything. If you land on green, you win \)10. Complete the following expected value table.

Short Answer

Expert verified

The expected value of the table is shown as below:

Step by step solution

01

Content Introduction

We are given here,

X is equal to winning amount in $

02

Content Explanation

The expected value table is:

The expected value μ

SumofX(P)X=sumofallvaluesinthelastcolumnofabovetable=-4+0+2=-2

Therefore, there is a loss of$2on an average every time the game is played.

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