Answer:
$13.16
Step-by-step explanation:
For each individual spin, there are two possible outcomes:
- There is a 1 in 38 chance of winning $175.
- There is a 37 in 38 chance of losing $5.
The expected value for each spin is the sum of the products of each outcome by their respective probability.
In 50 spins, the expected value is:
[tex]E(50) = 50*(175*\frac{1}{38} -5*\frac{37}{38})\\E(50)=-\$13.16[/tex]
You can expect to lose $13.16 if you spin the wheel 50 times.
