Answer:
Expected value is $13
Step-by-step explanation:
It is given that number of slices in spinning wheels =20
Number of green slice = 7
Number of red slice = 4
It is given that when green and red slice comes there is a win
Probability of outcome of green slice [tex]=\frac{7}{20}[/tex]
Probability of outcome of red slice [tex]=\frac{4}{20}[/tex]
It is given that when green slice comes win price is $2 and when red slice come price $5
So winning price
[tex]=\frac{7}{20}\times 2+\frac{4}{20}\times 5=1.7[/tex]
Charge of each play is $3
So expected value if he plays one times =$1.7 - $3 = -$1.3
He plays 10 times
Therefore total expected values = 10×-$1.3= $13
