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(a) Find the expected value of playing the game. O dollars |(b) What can Hans expect in the long run, after playing the game many times? O Hans can expect to gain money. He can expect to win I dollars per spin. O Hans can expect to lose money. He can expect to lose I dollars per spin. Hans can expect to break even (neither gain nor lose money).

(a) Find the expected value of playing the game. O dollars |(b) What can Hans expect in the long run, after playing the game many times? O Hans can expect to gain money. He can expect to win I dollars per spin. O Hans can expect to lose money. He can expect to lose I dollars per spin. Hans can expect to break even (neither gain nor lose money).

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Es Hans is playing a game in which he spins a spinner with 6 equal-sized slices numbered 1 through 6. The spinner stops on a numbered slice at random. This game is this: Hans spins the spinner once. He wins $1 if the spinner stops on the number 1, $3 if the spinner stops on the number 2, $5 if the spinner stops on the number 3, and $7 if the spinner stops on the number 4. He loses $1.25 if the spinner stops on 5 or 6. (If necessary, consult a list of formulas.) (a) Find the expected value of playing the game. || dollars (b) What can Hans expect in the long run, after playing the game many times? O Hans can expect to gain money. He can expect to win | dollars per spin. O Hans can expect to lose money. He can expect to lose | dollars per spin. Hans can expect to break even (neither gain nor lose money).
Transcribed Image Text:Es Hans is playing a game in which he spins a spinner with 6 equal-sized slices numbered 1 through 6. The spinner stops on a numbered slice at random. This game is this: Hans spins the spinner once. He wins $1 if the spinner stops on the number 1, $3 if the spinner stops on the number 2, $5 if the spinner stops on the number 3, and $7 if the spinner stops on the number 4. He loses $1.25 if the spinner stops on 5 or 6. (If necessary, consult a list of formulas.) (a) Find the expected value of playing the game. || dollars (b) What can Hans expect in the long run, after playing the game many times? O Hans can expect to gain money. He can expect to win | dollars per spin. O Hans can expect to lose money. He can expect to lose | dollars per spin. Hans can expect to break even (neither gain nor lose money).
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