A) The expected value is ? (Round to nearest cent as needed) B) On playing for 1

Question

A) The expected value is ? (Round to nearest cent as needed)
B) On playing for 1000 rounds, the player expected to lose about? (Round to nearest cent as needed) 0.1.2O := uestion Help n the game of roulette, a player can place a $4 bet on the number 27 and have a 38 probability of winning. If the metal ball lands on 27, the player gets to keep the $4 paid to play the game and the player is awarded an additional $140. Otherwise, the player is awarded nothing and the casino takes the player's $4. What is the expected value of the game to the player? If you played the game 1000 times, how much would you expect to lose?

Explanation / Answer

a)

Expected value is

-4*(37/38) + 140*(1/38) = - $0.210526 (Loss)

b)

On playing 100 rounds the pleayer is expected to loose

$210.53

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