Innoducon I want you to think about the following game and determine if the game is fair or unfair. I want you to give your
Innoducon I want you to think about the following game and determine if the game is fair or unfair. I want you to give your opinion on the topic and for everyone to engage in a conversation expanding on the ideas for this topic. Fair Game A game is said to be fair if the expected value (after considering the cost) is 0. If this value is positive, the game is in your favour; and if this value is negative, the game is not in your favour. Game You pay 5 Euros to spin the arrow on a wheel. Each colored space has a different amount to win some money. Whichever space the arrow lands on. this is the amount of money you get back (after you paid the 5 Euros to play) Careful Be mindful of the net prot. as you have to pay 5 Euros to play the game. Topic Reply I want you to answer the following question in your reply: 1. What is the expected value of this game? 2. Do you think this is a fair game? If not fair, then who is losing in the game, the player or the game host? 3. If it is not a fair game, then which colored area would you add 1 Euro to make it a fair game. This discussion activity is a community based assignment that involves sharing, and where appropriate. constructive criticism or encouragement
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