I'm doing a past paper to revise for my resit, and I'm stuck on a question:

  • 0 votes

Question 12:

Bert has a game at a fair. In the game the players pay to spin a wheel. When the wheel stops, the amount shown by the arrow is given to the player. Here are the probabilities that the wheel will stop on 5p, 10p, 20p and 50p.

  • 5p = 0.5
  • 10p = 0.25
  • 20p = 0.15
  • 50p = 0.1

Bert wants to make a profit from the game. Work out the minimum he can charge players to spin the wheel.

Posted Mon 30th May, 2011 @ 15:48 by Shannon Tennant-Smith - Team GR

3 Answers

  • 1 vote

Multiply the money by the probabilities.

ie 5 x 0.5, 10 x 0.25, 20 x 0.15 and 50 x 0.1

This gives 13 as a total.  This is the expected pay out per game on average. so anything from 14 p upwards will gain aprofit over a long period of time.

Answered Mon 30th May, 2011 @ 17:30 by Arron Beckett
  • 0 votes

Multiply the money by the probabilities.

ie 5 x 0.5, 10 x 0.25, 20 x 0.15 and 50 x 0.1

This gives 13 as a total.  This is the expected pay out per game on average. so anything from 14 p upwards will gain aprofit over a long period of time.

Answered Mon 30th May, 2011 @ 17:30 by Arron Beckett
  • 0 votes

Thanks I understand it now.... no wonder i didn't get my target level on the first exam. My target is an A* and I was one mark off!! I was kicking myself for ages after that!!

Answered Tue 31st May, 2011 @ 13:00 by Shannon Tennant-Smith - Team GR