(a) Find the expected value of playing the game. dollars (b) What can Alonzo expect in the long run, after playing the game many times?

Ravi is at the grand opening celebration of a supermarket. He spins a wheel with 10 equal-sized slices, as shown below. The wheel has 2 black slices, 4 grey slices, and 4 white slices. When the wheel is spun, the arrow stops on a slice at random. If the arrow stops on the border of two slices, the wheel is spun again. (a) If the arrow stops on a grey slice, then Ravi wins a gift card. Find the odds against Ravi winning a gift card. 0 (b) If the arrow stops on a grey slice, then Ravi wins a gift card. Find the odds in favor of Ravi winning a gift card. X to

Laura has a bag with 8 balls numbered 1 through 8. She is playing a game of chance. This game is this: Laura chooses one ball from the bag at random. She wins $1 if the number 1 is selected, $2 if the number 2 is selected, $5 if the number 3 is selected, $6 if the number 4 is selected, $8 if the number 5 is selected, and $10 if the number 6 is selected. She loses $14 if 7 or 8 is selected. (a) Find the expected value of playing the game. dollars (b) What can Laura expect in the long run, after playing the game many times? (She replaces the ball in the bag each time.) O Laura can expect to gain money. She can expect to win dollars per selection. O Laura can expect to lose money. She can expect to lose dollars per selection. O Laura can expect to break even (neither gain nor lose money). X

James placed a $25 bet on a red and a $5 bet on the number 33 (which is black) on a standard 00 roulette wheel.   -if the ball lands in a red space, he wins $25 on his 'red' but loses $5  on his '33' bet - so he wins $20 -if the ball lands the number 33, he loses $25 on his 'red' bet but wins $175 on his '33' bet: He wins $150 -if the ball lands on a spae that isn't red and isnt 33 he loses both bets, so he loses $30 So for each spin; he either wins $150, wins $20, or loses $30 -probability that he wins $150 is 1/38 or .0263 -probability that he wins $20 is 18/38 or .4737 -probability that he loses $30 is 19/38 or .5000   let X = the profit that james makes on the next spin x P (X=x) x*P(X=x) x^2*P(X=x) 150 .0263 3.945 591.75 20 .4737 9.474 189.48 -30 .5000 -15.000 450.00 sum (sigma) 1.000 -1.581 1231.23   u (expected value)= -$1.581 variance = 1228.73044 standard deviation = 35.053   FILL IN THE BLANK   if you play 2500 times, and Let, x (x bar)= the mean winnings (or…

Jina has a bag with 8 balls numbered 1 through 8. She is playing a game of chance. This game is this: Jina chooses one ball from the bag at random. She wins $1 if the number 1 is selected, $2 if the number 2 is selected, S3 if the number 3 is selected, S4 if the number 4 is selected, and $5 if the number 5 is selected. She loses $5 if 6, 7, or 8 is selected. (If necessary, consult a list of formulas.) (a) Find the expected value of playing the game. | dollars (b) What can Jina expect in the long run, after playing the game many times? (She replaces the ball in the bag each time.) O Jina can expect to gain money. She can expect to win | dollars per selection. O Jina can expect to lose money. She can expect to lose dollars per selection. O Jina can expect to break even (neither gain nor lose money).