At a fair carnival roulette wheel,a player can either win $10,$30,or $80.If it costs $30 to play,would an individual gain or lose from playing the game?
A)Gain
B)Lose
C)Breakeven-neither gain nor lose
D)None of the above

Question

​At a fair carnival roulette wheel,a player can either win $10,$30,or $80.If it costs $30 to play,would an individual gain or lose from playing the game?
A)​Gain
B)Lose
C)Breakeven-neither gain nor lose
D)​None of the above

Quizplus · Accepted Answer

To determine if an individual would gain or lose from playing the game, we need to consider the expected value of a game. Without the probabilities of winning each amount, we can't calculate the exact expected value. However, since the potential winnings ($10, $30, $80) are all greater than or equal to the cost to play ($30), and assuming there's a non-zero chance of winning each amount, the player has a chance to gain. This does not guarantee a gain every time but indicates a potential for gain depending on the probabilities of each outcome.

​At a Fair Carnival Roulette Wheel,a Player Can Either Win

At a Fair Carnival Roulette Wheel,a Player Can Either Win