Question
Need Excel solution: A midway game called Crowns and Anchors has six symbols that you can bet $1 on.A wheel is spun, and you receive
Need Excel solution:
A midway game called "Crowns and Anchors" has six symbols that you can bet $1 on.A wheel is spun, and you receive $1 for each corresponding symbol in the segment that turns up on the spin.The wheel has 20 equal segments, and each segment contains 3 symbols.For each symbol, for example s, one segment contains 3 , two segments contain 2 (plus some other symbol), and three segments contain 1 (plus two other symbols).Thus 14 segments will have other symbols and contain no s.
a)If you bet $1 on , what is your expected win per play?
b)Would you play this game?Why do people buy lottery tickets?
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