Question

Please help! Correct answer only!

You can play a game with a wheel whose rim is divided into equal sections marked with the numbers from 1 to 10. If you play, the attendant will spin the wheel and a ball will land in a random section. If the number the ball lands on is odd, you win $25. If the number the ball lands on is even, you win nothing. If you play the game, what is the expected payoff?

$___

Answer 1

$12.5

Explanation:

Since there is a 50% chance of landing on an odd number, the expected payoff is 0.5*25=12.5. Hope this helps!