SOLUTION: In a wheel game show four prize are hidden on the wheel which contains 20 spaces. One prize is worth $500, two prizes are worth $1000 each, and the other prize is worth $3000. The

Question 128442This question is from textbook Fundamentals of Mathematics
: In a wheel game show four prize are hidden on the wheel which contains 20 spaces. One prize is worth $500, two prizes are worth $1000 each, and the other prize is worth $3000. The remaining spaces contain no prizes. If a contestant picks a space at random, what is the mathematical expectation?
This question has given me a headache. Thank you for your help. This question is from textbook Fundamentals of Mathematics

Answer by scott8148(6628) (Show Source): You can put this solution on YOUR website!
this courtesy of Wikipedia...
"In probability theory the expected value (or mathematical expectation, or mean)
__ of a discrete random variable is the sum of the probability of each possible outcome
__ of the experiment multiplied by the outcome value (or payoff)."

multiply the value of each prize by the probability of the prize
__ add all the products together to get the "mathematical expectation"
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