n the game of roulette, a player can place a S5 bet on the number 21 and have a

Question

n the game of roulette, a player can place a S5 bet on the number 21 and have a u Probablty of winning If the metal ball ands on 21,the player gets to kep the S5 paid to play the game and the player s anarded an adsitiona $175. Otherwise the player is awarded nothing and the casino takes the player's $5. What is the expected value of the game to the player? It you played the garme 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 38 The expected value is Round to the nearest cent as needed) Enter your answer in the answer box and then click Check Answer 257 PM TOSHIBA ONE DEL BACK PACE

Explanation / Answer

Expected value of the game to the player

= 175(1/38) - 5(37/38)

= $ -0.26

If the game is played 1000 times, the player is expected to loose $260.

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