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Calculate the expected value of the game

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Reference no: EM131748244

Spinning the wheel. A wheel comes up green 50% of the time and red 50% of the time. If it comes up green, you win $100. If it comes up red, you win nothing.

a) Intuitively, how much do you expect to win on one spin, on average?

b) Calculate the expected value of the game.

Reference no: EM131748244

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