Expectation, math homework help

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Mathematics

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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 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 Dave's expectation when he spins the wheel at the start of the game (he has no money to lose if he lands on Bankrupt). b) If Dave presently has a balance of $1100, determine his expectation when he spins the wheel. 00$ 008 5600 $200 0001S $400 ng 100 004 a) Dave's expectation at the start of the game is $ (Round to the nearest cent as needed.) b) Dave's expectation with $1100 is $ (Round to the nearest cent as needed.)
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Explanation & Answer

Possible locations that dave can stop are1. $800,2. $100,3. $300,4. Bankrupt, 5. $700,6. $50...


Anonymous
Excellent resource! Really helped me get the gist of things.

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