1. A game is played by spinning a wheel that contains the words Win and Lose. The wheel has 10 slots, with Win written four times and Lose written six times. If the wheel lands on win, you win

$5; on lose, you win nothing. It costs $2 to play. What is the expected value?

Question

14 September, 18:27

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Sugar · Answer 1

The expected value can only be determined if we know how many times the player spins the wheel.

1. A game is played by spinning a wheel that contains the words Win and Lose. The wheel has 10 slots, with Win written four times and Lose written six times. If the wheel lands on win, you win$5; on lose, you win nothing. It costs $2 to play. What is the expected value?