# SOLUTION: . A person spins the pointer and is awarded the amount indicated by the pointer. pointer landed on \$2 1/2 is \$2, 1/4 is \$8, 1/4 is \$5 It costs \$6 to play the game. Determin

Algebra ->  Algebra  -> Test -> SOLUTION: . A person spins the pointer and is awarded the amount indicated by the pointer. pointer landed on \$2 1/2 is \$2, 1/4 is \$8, 1/4 is \$5 It costs \$6 to play the game. Determin      Log On

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 Click here to see ALL problems on test Question 477045: . A person spins the pointer and is awarded the amount indicated by the pointer. pointer landed on \$2 1/2 is \$2, 1/4 is \$8, 1/4 is \$5 It costs \$6 to play the game. Determine: • The expectation of a person who plays the game. • The fair price to play the game. Answer by stanbon(57219)   (Show Source): You can put this solution on YOUR website!A person spins the pointer and is awarded the amount indicated by the pointer. pointer landed on \$2 1/2 is \$2, 1/4 is \$8, 1/4 is \$5 It costs \$6 to play the game. Determine: • The expectation of a person who plays the game. --- E(gain) = (1/2)2+(1/4)8+(1/4)5-6 --- E(gain) = 1 + 2 + 5/4 - 6 E(gain) = 4.25 - 6 = -\$1.75 --- The player can expect to lose \$1.75 each time he plays the game. --- • The fair price to play the game. The fair price would be \$4.25 to play the game. ============== Cheers, Stan H.