Joe is playing a game in which he spins a spinner with 6

Last updated: 4/24/2023

Joe is playing a game in which he spins a spinner with 6 equal sized slices numbered 1 through 6 The spinner stops on a numbered slice at random This game is this Joe spins the spinner once He wins 1 if the spinner stops on the number 1 3 if the spinner stops on the number 2 5 if the spinner stops on the number 3 and 7 if the spinner stops on the number 4 He loses 6 50 if the spinner stops on 5 or 6 a Find the expected value of playing the game dollars b What can Joe expect in the long run after playing the game many times Joe can expect to gain money He can expect to dollars per spin Joe can expect to lose money He can expect to lose dollars per spin O Joe can expect to break even neither gain nor lose money X