Question: please help Question 19 (5 points) A spinner at the State Fair is divided into three equal parts. Each section is labeled as follows: Win
please help

Question 19 (5 points) A spinner at the State Fair is divided into three equal parts. Each section is labeled as follows: Win $1, Win $5, and Win $20. It will cost $5 to play. What is your expected value? (a) -$3.67 ( b) $8.67 O c) $3.67 ( d) None of the above Question 20 (5 points) The annual premium for a $8,000 insurance policy against the theft of a diamond necklace is $250. If the empirical probability that the painting will be stolen during the year is .005, what is your expected value from the insurance company if you take out this insurance? Oa) -$210.00 Ob) - $208.75 O c) -$7710.00 O d) None of the above
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
