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Jim is playing a game in which he spins a spinner With 6 equalsized slices numbered 1 through 6. The spinner stops on a numbered
Jim is playing a game in which he spins a spinner With 6 equalsized slices numbered 1 through 6. The spinner stops on a numbered slice at random. This game is this: Jim spins the spinner once. He wins $1 if the spinner stops on the number 1, $3 if the spinner stops on the number 2, $5 if the spinner stops on the number 3, and $? if the spinner stops on the number 4. He loses $1.25 if the spinner stops on 5 or 6. (a) Find the expected value of playing the game. dollars {b)W1at can Jim expect in the long run, after playing the game many times? C:- Jim can expect to gain money. He can expect to win dollars per spin. C:- Jim can expect to lose money. He can expect to lose dollars per spin. C:- Jim can expect to break even (neither gain nor lose money)
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