2. • The player will pay $100
to participate, and then
proceed to spin the wheel
of good fortune. The
amount of money on the
section is the amount of
money that the player will
win. The $100 fee is only
good for one spin. A zero
means the player receives
no money back, hence
loosing $100.
125
200
0
0
150
150
0
135
5. • The expected value for playing this game was $95. This
puts the game in favor of the house by $5 per spin
despite its appealing look. The simulated data had a
mean value of $74.10 which puts the house in favor by
$25.90. The theoretical standard deviation was $76.36.
The simulated standard deviation was $80.35. Despite
there being more chances to win money, the net loss
from winning $0 (losing $100) overcame the net gain.
To make this game more appealing than it already is,
we could increase the size and number of sections in
the wheel, allowing for even more chances to win
money, while still allowing the house to have an edge
on the player.
