Homework Help: Math

Posted by Jen on Thursday, July 21, 2011 at 8:53am.

A person spins the pointer and is awarded the amount indicated by the pointer.

(A circle with 3 sections divided: $2, $5, $10). The pointer stops on $2.

It costs $6 to play the game. Determine:

a.) The expectation of a person who plays the game.

b.) The fair price to play the game.

Math - Reiny, Thursday, July 21, 2011 at 9:03am
expected value
= (1/3)($2) + (1/3)($5) + (1/3)($10) = $5.67

Draw your conclusion.
Math - Jen, Thursday, July 21, 2011 at 12:48pm
what do you mean by draw your conclusion?

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