Question

In the game of​ roulette, a player can place a ​$7 bet on the number 5 and have a 1/38 probability of winning. If the metal ball lands on ​, the player gets to keep the ​$7 paid to play the game and the player is awarded an additional ​$245. ​ Otherwise, the player is awarded nothing and the casino takes the​ player's ​$7. What is the expected value of the game to the​ player? If you played the game 1000​ times, how much would you expect to​ lose? Question content area bottom Part 1 The expected value is ​$ -0.37. the player would expect to lose about ​$

Answer 1

973.68 times

Explanation:

Since you would expect to win 1 in 38, the amount of times you will win in 1000 times is 1000 / 38 which is 26.32. therefore you would expect to lose 1000 - 26.32 times which is 973.68