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Spin-And-Win Is Under New Management

Question 10

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Spin-and-Win is under new management. The new management has changed the spinner as below and now charges $1 per spin. (The person spinning wins the amount pointed to by the spinner.) Spin-and-Win is under new management. The new management has changed the spinner as below and now charges $1 per spin. (The person spinning wins the amount pointed to by the spinner.) A) What is the expected value for this game? (Show your work.) B) What does your answer in part A mean if there are 1000 customers who play the game in a week?
A) What is the expected value for this game? (Show your work.)
B) What does your answer in part A mean if there are 1000 customers who play the game in a week?

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