A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Catalina participates in a game that consists of spinning a roulette with 6 segments of the same size numbered from 1 to 6. The roulette randomly stops at a numbered segment.
This is the game: Catalina spins the wheel only once. She wins $ 1 if the wheel stops at number 1, $ 3 if the wheel stops at number 2, $ 5 if the wheel stops at number 3, and $ 7 if the wheel stops at number 4. She loses $ 1.25 if roulette stops at 5 or 6.


(a) Calculate the expected value of participating in the game.
____ pesos

b) What can Catalina expect in the long run after playing several times?
1) Catalina can expect to earn money.
She can expect to earn ___ pesos per spin of the roulette wheel.

2) Catalina can expect to lose money.
She can expect to lose ___ pesos per spin of the roulette wheel.

3) Catalina can expect to draw (she neither wins nor loses money)

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