maths
posted by ?????? .
at a fairground, the table shows the prbability of winning an amount on a spinner. what is the minimum amount that can be charged to make profit from the game?
amount 5p 10p 20p 50p
prbability 0.5 0.25 0.15 0.1
can you show how you worked it out? thanks

maths 
Reiny
expected value
= .5(5) + .25(10) + .15(20) + .1(50)
= .25 + 2.5 + 3 + 5
= 10.75 p
but I assume p stands for pence and thus we would have to charge 11 p to profit from the game
(at 10 p we would be losing)
Respond to this Question
Similar Questions

Math( help please ! )
The profit p(x) of a cosmetics company , in thousands of dollars . is given by p(x) =5t^2=400x2550, where x is the amount spent on advertising in thousands of dollars a) determine the maximum profit the company can make b) dtermine … 
Math( help please ! )
The profit p(x) of a cosmetics company , in thousands of dollars,is given by p(x)=5x^2+400x2550, where x is the amount spent on advertising , in thousands of dollars a) determine the max profit the company can make b)Determine the … 
Math
The profit p(x) of a perfume company , in thousands of dollars,is given by p(x)=5x^2+400x2550, where x is the amount spent on advertising , in thousands of dollars a) determine the max profit the company can make b)Determine the … 
maths
matt and ruba each have one coin. The total amount of money is less than 50p. work out the probability that exactly one of the coins is a 10p piece. assume that all possible coins are equally likely. please can you explain i have to … 
MATHS
matt and ruba each have one coin. The total amount of money is less than 50p. work out the probability that exactly one of the coins is a 10p piece. assume that all possible coins are equally likely. 
maths
a man started to play a card game .in the first round he doubled the amount and he gave away a certain amount say P to his friend.In the second round,he tripled the amount left with him after the first round and gavew away an amount … 
Math
Interest is a concept familiar to most people: every credit card in existence has a term called annual percentage rate (APR), which is an interest rate. Suppose you charged $1,000 to a credit card that has a minimum payment each month … 
maths
the profit of a certain company is given by p(x)=10,000+350x1/2xsq where x is the amount (birr in tens) spent on advertising. Whate amount gives a profit of more than birr 40,000? 
ALGEBRA
A SPINNER WITH FOUR EQUAL SECTIONS NUMBERED 3,5,7 AND 8 IS SPUN TWICE. WHAT IS THE PRBABILITY THAT AN ODD NUMBER IS SPUN THE FIRST TIME AND AN EVEN NUMBER IS PUN THE SECOND? 
Math
When at rest an average adult breathes in and out every 4s. the average minimum amount of air the lungs is 0.08L and the average maximum amount of air in the lungs is 0.82L. Assume the lungs have a minimum amount of air at t=0 where …