Question

At a carnival, you spin a spinner that has four equal-sized sections, each a different color: green, yellow, red, and blue. If you land on green, you win 2 points. If you land on yellow, red, or blue, you lose 1 point. Write the expected value equation. E (V) = StartFraction 1 Over a EndFraction (2) + StartFraction 1 Over b EndFraction (c) + StartFraction 1 OVer d EndFraction (e) + StartFraction 1 Over f EndFraction (g) a = b = c = d = e = f = g =

Answer 1

A 4

B 4

C -1

D 4

E -1

F 4

G -1

-0.25 points

lose 250 points

Answer 2

a = 4

b = 4

c = -1

d = 4

e = -1

f = 4

g = -1

Explanation:

To get the expected value equation you have to multiplicate the probability of each outcome by its reward and add them. The probability to get each color is 1/4 because the spinner has four equal-sized sections. If you win money, your reward is positive, but if you lost it, your reward is negative. Then:

expected value equation. E (V) = (1/4)*2 + (1/4)*(-1) + (1/4)*(-1) + (1/4)*(-1) = -0.25