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In the game ofroulette, a player can place a $5 bet on the number 35 and have a StartFraction 1 Over 38 probability of winning.
In the game ofroulette, a player can place a $5 bet on the number 35 and have a StartFraction 1 Over 38 probability of winning. If the metal ball lands on 35, 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 theplayer's $5. What is the expected value of the game to theplayer? If you played the game 1000times, how much would you expect tolose?
The expected value is ?
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