Answer:
(a)-$0.53
(b)$530
Explanation:
If the player wins the game, he gets a profit of $350.
If the player losses the game, he gets a profit of -$10.
Probability of Winning

Probability of Loosing

(a)Expected Value of the game

The expected value of the game to the player is -$0.53.
(b)If the game is played 1000 times
Expected Loss = 0.53 X 1000
=$530
The player should expect to lose approximately $530 if he plays the game 1000 times.