00:01
So while seeing the question let's further move to the answer.
00:03
So let's see here that it is given that pay off is $35 for a $1.
00:29
So for a $5 bet the amount of winning is $35 .5 is equal to $175.
00:58
That is if you lose bet $5, you lose $5, otherwise you get $175, there are total $17, there are total 78 pocket out of which 1 is 18.
02:24
So the probability of winning is p bracket win is equal to 1 by 38.
02:50
The probability of losing is p bracket lose is equal to 1 minus p bracket win is equal to 37 by 38.
03:35
Let x is a random variable shows the winning amount.
04:03
Therefore the expected gain is e bracket x is equal to 175.
04:33
Into p bracket win minus five dollars into p bracket lose is equal to 175 into 1 by 38 minus five dollars into 37 by 38 is equal to minus 0 .26.
05:22
Hence required expected gain is minus 0 .26.
06:00
So here is the solution of the question that it is given that pay off is $35 for a $1...