How much do you expect to win on one spin

Assignment Help Basic Statistics

Reference no: EM131417925

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: EM131417925

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