Explain the fair price to play the game

Reference no: EM13118647

The fair price to play the game

A person spins the pointer and is awarded the amount indicated by the pointer. The wheel has three amounts to win: $2.00, $10.00 and $15.00. It costs $10.00 to play the game. Determine-

1) The expectation of a person who plays the game.

2) The fair price to play the game.

Reference no: EM13118647

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