Question

A roulette wheel has 38 numbers 1 through 36, 0, and 0 0. A ball is rolled, and it falls into one of the 38 slots, giving a winning number. each bet in Problems 31 to 36 list the payout for winning on a $1 bet, including the dollar that was bet. Find the odds in the favor of each bet and the expected value.

Answer 1

The probability of getting 0 is 1/38 because there's just one slot with 0.

The probability of getting 00 is 1/38 because there's just one slot with 00.

The probability of getting 0 and 00 is

`P=(1)/(38)\cdot(1)/(38)=(1)/(1444)`

Then, we multiply the probability by the payout to find the expected value

`E=18\cdot(1)/(1444)\approx0.01`

Hence, the odds are 1 in 1444, and the expected value is $0.01 (one cent).