In the game of roulette, a player can place a $10 bet on the number 32 and have

Question

In the game of roulette, a player can place a $10 bet on the number 32 and have a 33 probablity of winning. t' the metal belllands on 32, the player gets to keep the $10 paid to play the game and the player is awarded an additional S350. Otherwise, the plaver is awarded nothing and the casino takes the player's $10. What s the expected value of the game to the player?you played the game 1000 times, how much would you expect to lose? Note that the expected value is the amount, on average, one would expect to gain or lose each game The expected value is s Round to the nearest cent as needed.) The player would expect to lose about S Round to the nearest cent as needed.)

Explanation / Answer

P(losing) = 1-1/38 = 37/38

Expected value of the game to the player=

350*(1/38)+(-10)*(37/38)=9.51052-9.73684=-0.22632

So the expected value of the game to the player is loosing $0.22632

If you played the game 1000times,you would expect to lose=1000*(-0.22632)=-226.32

So you would expect to lose $226.32

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