In the game of roulette, a player can place a $4 bet on the number 35 and have a

Question

In the game of roulette, a player can place a $4 bet on the number 35 and have a 38 probability of wining I the metal balands on 35, 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? 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.) nts cess ibrary Enter your answer in each of the answor boxes Before you start STATISTICS pe here to search Pgk F10 F11 F12 PriscrInsert Delete F3 F4 F5 F6 F7 F8 F9

Explanation / Answer

Solution:-
E(x) = 140(1/38) + (-4)37/38) = (140 - 148)/38 = -8/38 = -0.21

The expected value is $-0.21

=> 1000(-0.21) = $210
the player would expect to lose about $210

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