Roulette wheels have 38 numbers (1 through 36 plus 0 and 00) of which 18 are...

Roulette wheels have 38 numbers (1 through 36 plus 0 and 00) of which 18 are red, 18 are black, and the 0 and 00 are green. A bettor may place a $1 bet on any one of the 38 numbers. The bettor wins $35 (bettor gets his $1 back) if the ball lands on his number, otherwise he loses his bet.

a) Find the expected value of the game.

b) What is wrong about how the casino pays a winner if they bet on a single number?

Expert Solution

orchestra answered 1 year ago

A roulette wheel has 38 slots, numbered 0, 00, and 1 to 36. The slots 0...

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