win $10. if you play this game many times, will you come out ahead?
define a random variable x.
what is the expected value, μ? do you come out ahead?
add the last column of the table. the expected value μ = . you lose, on average, about 67 cents each time you play the game so you do not come out ahead.
suppose you play a game with a spinner. you play each game by spinning the spinner once.
p(red) = . if you land on red, you pay $10. if you land on blue, you don’t pay or win anything. if you land on green, you win $10. complete the following expected value 