1. 12520000150150 0135

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 $100.12520000150150 0135 3. Expected Value (theoretical)Ux = $95.00Standard deviation (theoretical) 4. Section (Money Earned)Number of Occurrences1 (125)62 (200)63 (0)104 (150)65 (135)36 (0)77 (150)38 (0)9Expected Value (Simulated)Standard deviation (Simulated) 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.