In the game of roulette, a player can place a $5 bet on the number 18 and have a 1/38 probability of winning answer If the metal ball lands on 18 the player wins $175. Otherwise the casino takes the players $5 what is the expected value of the game to the player
Added by Kelsey T.
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If the player wins, they gain $175 - $5 = $170. Show more…
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In the game of roulette, a player can place a $5 bet on the number 24 and has a 1/38 probability of winning. If the metal ball lands on 24, the player gets to keep the $5 paid to play the game and is awarded an additional $175. Otherwise, the player is awarded nothing and the casino takes the player's $5. What is the expected value of the game to the player? If you played the game 1000 times, how much would you expect to lose? Note that the expected value is the amount, on average, one would expect to gain or lose each game.
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In the game of roulette, a player can place a $5 bet on the number 16 and have a 1/38 probability of winning. If the metal ball lands on 16, the player gets to keep the $5 paid to play the game and the player is awarded an additional $175. Otherwise, the player is awarded nothing and the casino takes the player's $5. What is the expected value of the game to the player? If you played the game 1000 times, how much would you expect to lose? Note that the expected value is the amount, on average, one would expect to gain or lose each game. (Round to the nearest cent as needed.)
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