Question

Roulette is a casino game that involves players betting on where a ball will land on a spinning wheel. An American roulette wheel has 38 numbered slots — half of the slots from 1 to 36 are red and the other half are black. Slots 0 and 00 are both green. Suppose that a player bets $1 on a single slot. If the ball lands in their slot, the player gets their initial $1 back plus a payout of $35. If the ball doesn't land in their slot, they lose their $1 bet. Let X = the player's net gain from a $1 bet on a single slot. Here is the probability distribution of X: Win Lose X = net gain $35 -$1 P(X) 1/38 37/38 Find the expected value of a player's net gain on a $1 bet on a single slot. You may round your answer to the nearest thousandth. E(X) = dollars

          Roulette is a casino game that involves players betting on where a ball will land on a spinning wheel. An American roulette wheel has 38 numbered slots — half of the slots from 1 to 36 are red and the other half are black. Slots 0 and 00 are both green.

Suppose that a player bets $1 on a single slot. If the ball lands in their slot, the player gets their initial $1 back plus a payout of $35. If the ball doesn't land in their slot, they lose their $1 bet. Let X = the player's net gain from a $1 bet on a single slot. Here is the probability distribution of X:

Win Lose
X = net gain $35 -$1
P(X) 1/38 37/38

Find the expected value of a player's net gain on a $1 bet on a single slot.
You may round your answer to the nearest thousandth.

E(X) = dollars

Roulette is a casino game that involves players betting on where a ball will land on a spinning wheel. An American roulette wheel has 38 numbered slots — half of the slots from 1 to 36 are red and the other half are black. Slots 0 and 00 are both green.

Suppose that a player bets 1 on a single slot. If the ball lands in their slot, the player gets their initial1 back plus a payout of 35. If the ball doesn't land in their slot, they lose their1 bet. Let X = the player's net gain from a 1 bet on a single slot. Here is the probability distribution of X:

Win Lose
X = net gain35 -1
P(X) 1/38 37/38

Find the expected value of a player's net gain on a1 bet on a single slot.
You may round your answer to the nearest thousandth.

E(X) = dollars

Added by John P.

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