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What is the expected value of this game to a player

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Reference no: EM133050081

Question - A game consists of paying $7 to spin the spinner below one time. If the arrow lands on A, the player receives $16. If the arrow lands on a square, the player receives $5. If the arrow lands on p, the player receives nothing. The spaces on the spinner are exactly the same size, and the arrow cannot land on a line.

a. Using the information above, complete the following probability model from a player's point of view:

Outcome

Value

Probability

b. What is the expected value of this game to a player?

c. Use one sentence to explain what your answer to part a means in context.

Reference no: EM133050081

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