110115 (0 complete) This Quiz 15 Question Hep In the game of roulette, a player

Question

110115 (0 complete) This Quiz 15 Question Hep In the game of roulette, a player can place a S4 bet on the number 18 and have a probability of wiringlfthe metal ball lands on 18, the player gets to keep the 38 $4 paid to play the game and the player is awarded an additional $140. expected value of the game to the player? If you played the game 1000 times Otherwise, the player is awarded nothing and the casino takes the players S4 What is the , how much would you expect to lose? The expected value is (Round to the nearest cent as needed) The player would expect to lose about Round to the nearest cent as needed) Enter your answer in each of the answer boxes My Recent Achievenments View All Achievements make sure you have what you need to 45, 3

Explanation / Answer

a)

expected value

= 1/38 * 140 + 37/38 * -4

= -0.2105

expected lose = -0.2105 * 1000

= 210.5

b)

probability of surviving

= 20c20 * 0.99642ˆ20

= 0.99286

expected value

= 310 * 20 * 0.99286 + 300000 * 0.00714

= 4013.72

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