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A state fair has a spinner wheel as seen to the right. You walk up to the table and pay $2 for a chance to spin the wheel. You will either win nothing (ZERO), win $2, win $3, or win $4. Wa S3 ZERO Please note that you are paying $2 each time you play, but this does not affect how you calculate the expected value of the game. Each small wedge is 1/8 of the circle while each large wedge is 2/8ths or 1/4th. ZERO Win $2 Fill in the following chart: ZERO Win S4 Event ZERO Win $2 Win $3 Win $4 Win $3 Value of Event Probability of Event

A state fair has a spinner wheel as seen to the right. You walk up to the table and pay $2 for a chance to spin the wheel. You will either win nothing (ZERO), win $2, win $3, or win $4. Wa S3 ZERO Please note that you are paying $2 each time you play, but this does not affect how you calculate the expected value of the game. Each small wedge is 1/8 of the circle while each large wedge is 2/8ths or 1/4th. ZERO Win $2 Fill in the following chart: ZERO Win S4 Event ZERO Win $2 Win $3 Win $4 Win $3 Value of Event Probability of Event

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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Please answer numbers 8 through 10. it is all counted as 1 question per chart

A state fair has a spinner wheel as seen to the right. You walk up to the table and pay $2 for a chance to spin the wheel. You will either win nothing (ZERO), win $2, win $3, or win $4. Wn S3 ZERO Please note that you are paying $2 each time you play, but this does not affect how you calculate the expected value of the game. Each small wedge is 1/8th of the cirele while each large wedge is 2/8ths or 1/4th. ZERO Win $2 Fill in the following chart: ZERO Win S4 Win $2 Win $3 Win $4 Event ZERO Win $3 Value of Event Probability of Event 8. What is the expected value of this game? (ONLY the game. Do not consider the $2 it cost to spin the wheel) a. $1.25 b. $2.25 e. S1.75 d. $2.00 e. $2.13 9. Consider, now, that you are paying $2 each time you play this game. Is this a smart game to play? a. Yes, the expected value of the game is more than it costs to play. b. No, the expected value of the game is less than it costs to play. c. It doesn't really matter, the expected value is exactly what it costs to play. 10. If a game has an expected value of zero, what does this mean? (pick the best answer) a. That, over time, you will win as much as you lose. b. If you play this game all day, you should wind up with about what you started with c. That the vendor will not make money in the long run d. That the game is fair e. All of the above.
Transcribed Image Text:A state fair has a spinner wheel as seen to the right. You walk up to the table and pay $2 for a chance to spin the wheel. You will either win nothing (ZERO), win $2, win $3, or win $4. Wn S3 ZERO Please note that you are paying $2 each time you play, but this does not affect how you calculate the expected value of the game. Each small wedge is 1/8th of the cirele while each large wedge is 2/8ths or 1/4th. ZERO Win $2 Fill in the following chart: ZERO Win S4 Win $2 Win $3 Win $4 Event ZERO Win $3 Value of Event Probability of Event 8. What is the expected value of this game? (ONLY the game. Do not consider the $2 it cost to spin the wheel) a. $1.25 b. $2.25 e. S1.75 d. $2.00 e. $2.13 9. Consider, now, that you are paying $2 each time you play this game. Is this a smart game to play? a. Yes, the expected value of the game is more than it costs to play. b. No, the expected value of the game is less than it costs to play. c. It doesn't really matter, the expected value is exactly what it costs to play. 10. If a game has an expected value of zero, what does this mean? (pick the best answer) a. That, over time, you will win as much as you lose. b. If you play this game all day, you should wind up with about what you started with c. That the vendor will not make money in the long run d. That the game is fair e. All of the above.
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