Ask Experts Questions for FREE Help !
Ask
    rorymckeague's Avatar
    rorymckeague Posts: 8, Reputation: 1
    New Member
     
    #1

    May 10, 2012, 04:23 AM
    Expected Value
    You decide to play either one of the following games and each game costs $1 to play.

    Game 1: A spinner with 3 numbers on it, 0, 1, 2 is spun so that there is a 30% chance the spinner stops at 0, a 20% chance the spinner stops at 2. You get back the same amount, in dollars as the spinner stops at.

    Game 2: A different spinner with 3 numbers on it, 0, 1, 2 is spun so that there is a 5% chance the spinner stops at 0, 70% chance the spinner stops at 1 and 25% chance the spinner stops at 2. Again, you get back the same amount that the spinner stops at.

    Which game has the largest standard deviation in returns?

Check out some similar questions!

Carnival dart game asking about expected number of darts thrown and expected winnings [ 3 Answers ]

A Carnival game offers $100 cash prize for anyone who can break a balloon by throwing a dart at it. It costs $5 to play, and you're willing to spend up to $20 trying to win. You estimate that you have about a 10% chance of hitting the balloon on any throw. What is the expected number of...


View more questions Search
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.