In roulette, the numbers from 1 to 36 are evenly distributed between red and bla

Question

In roulette, the numbers from 1 to 36 are evenly distributed between red and black. A player who bets $1 on black wins $1 (and gets the $1 bet back) if the ball comes to rest on black: otherwise (if the ball lands on red, 0, or 00), the $1 bet is lost. One option in a roulette game is to bet $5 on red. If the ball lands on red, you get to keep the $5 you paid to play the game, and you are awarded $6. If the ball lands elsewhere, you are awarded nothing, and the $5 that you bet is collected. What is the expected value of the game? The expected value for playing roulette if you bet $5 on red is approximately $

Explanation / Answer

probability of winnning by betting on red =18/38 (as there are 18 red numbers out of 38)

and probability of losing by betting on red =1-18/38 =20/38

therefore expected value for playing roulette if you bet $5 on red =expected gain by winning -expected loss by losing

=6*(18/38)-5*(20/38)=$0.21

please revert for any clarification

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.