In the game of? roulette, a player can place a ?$99 bet on the number 1919 and h
ID: 3367571 • Letter: I
Question
In the game of? roulette, a player can place a
?$99
bet on the number
1919
and have a
StartFraction 1 Over 38 EndFraction138
probability of winning. If the metal ball lands on
1919?,
the player gets to keep the
?$99
paid to play the game and the player is awarded an additional
?$315315.
?Otherwise, the player is awarded nothing and the casino takes the? player's
?$99.
What is the expected value of the game to the? player? If you played the game 1000? times, how much would you expect to? lose? Note that the expected value is the? amount, on? average, one would expect to gain or lose each game.
The expected value is
?$nothing .
?(Round to the nearest cent as? needed.)
?
Explanation / Answer
solution:-
E(x) = 315(1/38) + (-9)(37/38)
= -0.4737
the player expected is 0.4737
If you played the game 1000 times, how much would you expect to lose?
the expected loss is 0.4737 * 1000
=> 474
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