Question
In the game ofroulette, when a player gives the casino $ 1919 for a bet on the number 2525 , the player has a StartFraction
In the game ofroulette, when a player gives the casino $1919 for a bet on the number 2525, the player has a StartFraction 37 Over 38 EndFraction3738 probability of losing $19 and a StartFraction 1/38 EndFraction138 probability of making a net gain of $665. (The prize is $684, but theplayer's $19 bet is notreturned, so the net gain is $665.) If a player bets $19 that the outcome is an oddnumber, the probability of losing $19 is StartFraction 20 /38 EndFraction2038 and the probability of making a net gain of $19 is StartFraction 18/38 EndFraction1838. (If a player bets $19 on an odd number andwin, the player is given $38 that includes thebet, so the net gain is $19.) Complete parts(a) through(c) below.
a. If a player bets $19 on the number 25, what is theplayer's expectedvalue?
The expected value is nothing dollars.
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