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four Tesch ponns AX04 12.6.005 0100 Submissions Many casinos have a game called the Big Six Money Wheel, which has 54 slots i
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Answer #1

Let X is a random variable shows the winning amount. Since player bet on Casino logo so either he will win $40-$2=$38 or loss -$2. The probability of winning Casino logo is

P(casino logo) = 1/54

So

P(X=$38) = 1/54

P(X=-$2) = 53/54

The expected value is

E(X) =$38* P(X=$38) +(-$2) *P(X=-$2) = 38 * (1/54) + (-2) *(53/54) = -$1.26(answer)

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