How do you work it out?
1 answer:
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Answer:
$ 1.96
Step-by-step explanation:
Number of spots with outcome of $1 = 9
Number of spots with outcome of $2 = 18
Number of spots with outcome of $10 = 1
Total number of spots = 28
Probability that ball will land on $1 =
Probability that ball will land on $2 =
Probability that ball will land on $10 =
The amount that player should expect to win on average in equal to expected value of the game. Expected value is calculated as the summation of product of probabilities with their respective outcomes.
i.e. for this case:
Expected Value will be:
This means, on average the player should expect to win $ 1.96