Question

In the game of​ roulette, a player can place a ​$55 bet on the number 3434 and have a startfraction 1 over 38 endfraction 1 38 probability of winning. if the metal ball lands on 3434​, the player gets to keep the ​$55 paid to play the game and the player is awarded an additional ​$175175. ​otherwise, the player is awarded nothing and the casino takes the​ player's ​$55. what is the expected value of the game to the​ player

Answer 1

the correct question is
In the game of​ roulette, a player can place a ​$5 bet on the number 34 and have a 1/38 probability of winning. if the metal ball lands on 34​, the player gets to keep the ​$5 paid to play the game and the player is awarded an additional ​$175. ​otherwise, the player is awarded nothing and the casino takes the​ player's ​$5. what is the expected value of the game to the​ player

we know that
P(winning) = 1/38
P(losing) = 1-1/38 = 37/38
Expected value = 175*1/38 - 5*37/38
175/38 - 185/38 = - 10/38 =-$0.2632

The player's expected value is -$0.2632 ( is losing)