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Solved: Roulette In the game of roulette, a player can

Chapter 11, Problem 31AYU

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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?

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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 -  =

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