Question

Please help! Correct answer only!

There is a spinner with 50 equally likely sections, numbered from 1 to 50. You have the opportunity to spin it. If the number is odd, you win $13. If the number is even, you win nothing. If you play the game, what is the expected payoff?

$___

Answer 1

Part 1 . " Spinner Problem "

Answer:

" Expected Payoff " ⇒ $ 6.5 ; Type in 6.5

Explanation:

`Spinner Sections - 50 Sections,\\Numbers On Spinner - 1 To 50,\\\\Odd = Even,\\Odd Numbers = 50 / 2 = 25,\\Even Numbers = Odd Numbers = 25,\\\\Probability Of Spinning Odd Number - 25 / 50 = ( Simplified ) 1 / 2,\\Money Won - 13 Dollars,\\\\Proportion - 1 / 2 = x / 13, Where - x =`

Solution ; " Expected Payoff " $ 6.5

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Part 2 . " Ticket Problem "

Answer:

" Expected Payoff " ⇒ $ 1.80 ; Type in 1.80

Explanation:

Take the probability of winning into consideration;

`Total Number of Tickets - 500,\\Tickets 1 Person Can Enter - 1 Ticket,\\\\Probability of Winning - 1 / 500,\\Money Won - 900 Dollars,\\\\Proportionality - 1 / 500 = x / 900 - where, x =`

Solution ; " Expected Payoff " ⇒ $ 1.80