dicussion 3

Anonymous

Question Description

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dicussion 3
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Tutor Answer

moizeali1
School: Boston College

Kindly go through the attachment. It is a .pdf format which includes the complete answer of the questions. If in case, there is any doubt or ambiguity do ask. Moreover, there is always a possibility of error, so please mark it and revert it. Based on the provided solution, do rate me:)

Question 1: To the right is a diagram of a prize wheel. When
Dave spins the wheel, he is awarded the amount on the wheel
indicated by the pointer. If the wheel points to the Bankrupt,
he loses the total amount he has accumulated and also loses
his turn. Assume that the wheel stops on a position at random
and that each position is equally likely to occur.
a) Determine the Dave’s expectation when he spins the wheel
at the start of the game (he has no money to lose if he lands
onthe Bankrupt).
b) If Dave presently has a balance of $1600, determine his expectation when he
spins the wheel.
Answer: The wheel has been divided into 12 equal segments and is a fair wh...

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