Question

The spinner on a wheel of fortune can land with an equal chance on any one of ten regions. Three regions are red, four are blue, two are yellow, and one is green. A player wins $4 if the spinner stops on red and $2 if it stops on green. The player loses $1 if it stops on blue and $5 if it stops on yellow.

What is the expected value rounded to the nearest cent?

Answer 1

What do you think?

What is p(stops on red)?
What is p(stops on green)?
What is p(stops on blue)?
What is p(stops on yellow)?

Answer 2

p(4)
p(2)
p(1)
p(5)

Answer 3

I think you might mean

p(stops on red) = 4
p(stops on green) = 2
p(stops on blue) = 1
p(stops on yellow) = 5

Or something like that. Anyway, that's no good. Probabilities, if you have hte ALL, have to add up to one (1).

You are given that there are ten (10) total, thus:

p(stops on red) = 3/10 = 0.3
p(stops on green) = 1/10 = 0.1
p(stops on blue) = 4/10 = 0.4
p(stops on yellow) = 2/10 = 0.2

Add them up to check.

Answer 4

ok thank you!