Question
In European roulette, 18 of the 37 slots are red, 18 slots are black, and there is a single green slot in which pretty much
In European roulette, 18 of the 37 slots are red, 18 slots are black, and there is a single green slot in which pretty much everyone loses their money if the ball ends up in that slot.
Suppose we bet $1 on black for each of 8 consecutive spins of the roulette wheel. We will win $1 if the ball lands in a black slot and lose $1 otherwise.
How much total money do we expect to win or lose after we have placed all 8 bets? Express your answer in dollars and cents, with losses indicated as negative numbers (e.g., if we expect to lose $0.57, we should write -0.57
Please send me answer in typed form strictly prohibited handwritten solution.
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