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2 answers:
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Answer:
Expected return for this bet = - $0.0243
Step-by-step explanation:
to find out
the expected return for this bet
solution
we know that Number of slots in the spinner is
Number of slots in the spinner = 0 + 40 = 41 slots
so
P for you winning is here =
and
Winning amount is = $40
so we can say that
Expected return for this bet is = Winning amount × P (winning) - Cost of bet ...............................1
put here value we get
Expected return for this bet = $40 × - 1
Expected return for this bet = - $0.0243