Question

In the game of​ roulette, a player can place a ​$4 bet on the number 23 and have a StartFraction 1 Over 38 EndFraction probability of winning. If the metal ball lands on 23​, 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

a.The expected value of the game to the player is -$0.2105

b. The player should expect to lose $210.50¢ if he/she places the bet or plays the game 1,000 times

Explanation:

Please kindly check the attached files for explanation.