Question

Suppose you nake $5 bet on the numbet 0 on a roulette wheel wirh 38 slots labelef 00, 0, 1, 2, 3, .. , 36. If 0 is spun you win a net of $175. If a 0 is not spun you lose the $6 bet. If you spin the wherl 50 times how much money csn you expect to gain or lose

Answer 1

-13.16

Explanation:

Answer 2

$13.16

Explanation:

For each individual spin, there are two possible outcomes:

- There is a 1 in 38 chance of winning $175.

- There is a 37 in 38 chance of losing $5.

The expected value for each spin is the sum of the products of each outcome by their respective probability.

In 50 spins, the expected value is:

`E(50) = 50*(175*(1)/(38) -5*(37)/(38))\\E(50)=-\$13.16`

You can expect to lose $13.16 if you spin the wheel 50 times.