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Solved: Roulette In the game of roulette, a player can
Chapter 11, Problem 31AYU(choose chapter or problem)
Roulette In the game of roulette, a player can place a $5 bet on the number 17 and have a \(\frac{1}{38}\) probability of winning. If the metal ball lands on 17 , the player wins $175. Otherwise, the casino takes the player's $5. 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?
Questions & Answers
QUESTION:
Roulette In the game of roulette, a player can place a $5 bet on the number 17 and have a \(\frac{1}{38}\) probability of winning. If the metal ball lands on 17 , the player wins $175. Otherwise, the casino takes the player's $5. 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?
ANSWER:Step 1 of 2
We have a player can place a $5 bet on the number 17,
and have a probability of winning is
Probability of losing is 1 - =