Question

In the game of​ roulette, a player can place a ​$4 bet on the number 14 and have a StartFraction 1 Over 38 EndFraction probability of winning. If the metal ball lands on 14​, 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?

Answer 1

Answer:

Given Data

Solution:-

Given that

In the game of roulette, a player can place a $ 4 bet on the number 14 and have a Start Fraction 1 Over 38 End Fraction 1 38 probability of winning. If the metal ball lands on 14, 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 tolose?

The probability of wining,

The probability of losing

a)

The expected value of the game to the player is,

(for one game)

b)

The expected value of lose for 1000 games is,

= 1000 * expected value of lose for one game

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