Question
Asked Oct 13, 2019
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A spinner game has a wheel with the numbers 1 through 40 marked in equally spaced slots. You pay $1 to play the game. You pick a number from 1 to 40. If the
spinner lands on your number, you win $35. Otherwise, you win nothing. Find the expected net winnings for this game. (Round your answer to two decimal places.)
$
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A spinner game has a wheel with the numbers 1 through 40 marked in equally spaced slots. You pay $1 to play the game. You pick a number from 1 to 40. If the spinner lands on your number, you win $35. Otherwise, you win nothing. Find the expected net winnings for this game. (Round your answer to two decimal places.) $

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Expert Answer

Step 1

To calculate the Expectation (of the given random variable)

Step 2

The random vriable X (in this problem) takes two values 34 ( net win)  and -1 (net loss) with the probabilities...

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X amount won or lost 39 P(X = -1) = 40 P(X 34) 40 So, Expected net winning 39 1 +(-1)x 40 = 34x 40 -5 -0.125 40

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