Question 2) Consider the wheel of fortune shown in Figure 1. If you bet $1 on the wheel, the payoff you receive is that shown in the segment corresponding to the landing spot. The chance of landing on a given segment is proportional to the area of the segment. For this wheel, the probability of each segment is 1/6. 0 -1 3 2 -1 Figure 1. Wheel of fortune a) Calculate the mean of the payoff of the wheel. (3p.) b) Calculate the rate of return of the wheel. (4p.) c) Calculate the variance of the payoff of the wheel. (8p.) Question 2) Consider the wheel of fortune shown in Figure 1. If you bet $1 on the wheel, the payoff you receive is that shown in the segment corresponding to the landing spot. The chance of landing on a given segment is proportional to the area of the segment. For this wheel, the probability of each segment is 1/6. 0 -1 3 2 -1 Figure 1. Wheel of fortune a) Calculate the mean of the payoff of the wheel. (3p.) b) Calculate the rate of return of the wheel. (4p.) c) Calculate the variance of the payoff of the wheel. (8p.)