Question

In the game of roulette, a player can place a $4 bet on the number 22 and have a 1/38 probability of winning. If the metal ball lands on 22, the player gets to keep the $4 paid to play the game and the player is awarded $140. Otherwise, the player is awarded nothing and the casino takes the players $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

The answer is actually -0.21. Not sure why though haha

Answer 2

-.21052631579 ;)

Answer 3

I know ;)

Answer 4

haha nice job

Answer 5

\[\begin{array}{c|c}
x & 140 & -4\\\hline p & \frac{1}{38} &\frac{37}{38}
\end{array}\]

this is the distribution of the problem

Answer 6

\[E(X)=140\frac{1}{38}-4\frac{37}{38}\]

Answer 7

\[=\frac{-4}{19}\]

Answer 8

ohh I was lost at how to start

Answer 9

you know how to answer the last part of the problem?

Answer 10

Heres another like this: In the game of roulette a player can place a 5 dollar bet on the number 27 and have a 1/38 probability of winning. If the metal ball lands on 27, the player gets to keep the 5 dollars and is awarded $175. Otherwise the player is awarded nothing and the casino takes the 5 dollars. 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 11

change 140 to 175 and -4 to -5 from what I did before