You are running a booth at a county fair. You have a large spinner that is 1/2 blue, 1/3 red and 1/6 black. Players can spin the spinner and if they land on red they get $3, if they land on black they get $5 and if they land on blue they get nothing. If you want the expected value of YOUR profit to be $1/spin, how much should you charge for each spin? Round your answer to the nearest cent and do not include a dollar sign. ( ie 3.54 not $3.54

You are running a booth at a county fair. You have a large spinner that is 1/2 blue, 1/3 red and 1/6 black. Players can spin the spinner and if they land on red they get $3, if they land on black they get $5 and if they land on blue they get nothing. If you want the expected value of YOUR profit to be $1/spin, how much should you charge for each spin? Round your answer to the nearest cent and do not include a dollar sign. ( ie 3.54 not $3.54

Name: You are running a booth at a county fair. You have a large spinner tha
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Description: You are running a booth at a county fair. You have a large spinner that is 1/2 blue, 1/3 red and 1/6 black. Players can spin the spinner and if they land on red they get $3, if they land on black they get $5 and if they land on blue they get nothing.

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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