Answer to Question #233392 in Statistics and Probability for Shen

Question

Suppose you play a game where you spin a spinner with areas of the colors on the spinner broken down as shown: 10% blue, 60% green, and 30% red. In addition, if the spinner lands on red you win 6 pesos, if it lands on blue you win 1 peso, and if it lands on the green you lose. If you keep spinning, how much would you expect to win or lose per game, if you pay 1 peso to play the game?

Answer 1

$$\begin{matrix} x & & -1 & 0 & 5 \\ p(x) & & 0.6 & 0.1 & 0.3 \end{matrix}$$

$$E(X)=0.6(-1)+0.1(0)+0.3(5)=0.9$$

I would expect to win 0.9 peso per game.