Ryan has a bag with

8

balls numbered

1

through

8

. He is playing a game of chance.

This game is this: Ryan chooses one ball from the bag at random. He wins

$1

if the number

1

is selected,

$2

if the number

2

is selected,

$5

if the number

3

is selected,

$6

if the number

4

is selected,

$8

if the number

5

is selected, and

$10

if the number

6

is selected. He loses

$14

if

7

or

8

is selected.

(a)	Find the expected value of playing the game.
	dollars32
(b)	What can Ryan expect in the long run, after playing the game many times? (He replaces the ball in the bag each time.)
	Ryan can expect to gain money.
	Hecanexpecttowindollarsperselection.
	Ryan can expect to lose money.
	Hecanexpecttolosedollarsperselection.
	Ryan can expect to break even (neither gain nor lose money).