In the game of roulette, a player can place a $5 bet on the number 7 and
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Question:
In the game of roulette, a player can place a
$5
bet on the number
7
and have a
138
probability of winning. If the metal ball lands on
7,
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.
Find the expected value E(x) to the player for one play of the game. If x is the gain to a player in a game of chance, then E(x) is usually negative. This value gives the average amount per game the player can expect to lose.
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