Question

2. A carnival is raising money for the public library, you can spin a spinner. The spinner is dividedinto 8 congruent sections. The section on which the spinner lands show the dollar amount belowthat you win. What is the expected value of each win?Imagine this is the spinner: $2-$1-$0-$1-$4-$1-$0-$1.A). $1.25B). $1.00c). $0.80D). $0.75

Answer 1

We are looking at the expected value of each win for a spinner. The spinner is divided into 8 congruent parts. Each section of the spinner is labeled as follows: $2-$1-$0-$1-$4-$1-$0-$1. To find the expected value, we will use the law of large numbers wherein the working equation to solve the expected value is

`EV=(values)/(n)`

where n is the sample space of the problem. The value of n in this problem is 8. The values are the label of the spinners. Substituting the given on the equation for EV and solve, we get

`\begin{gathered} EV=\frac{\$2+\$1+\$0+\$1+\$4+\$1+\$0+\$1_{}}{8} \\ EV=\$1.25 \end{gathered}`

We have an expected value of $1.25 for each win.

Answer: A) $1.25