In the American version of the Game Roulette, a wheel has 18 black slots, 18 red slots and 2 green slots. All slots are the same size. A per

Question

In the American version of the Game Roulette, a wheel has 18 black slots, 18 red slots and 2 green slots. All slots are the same size. A person can wager on either red or black. Green is reserved for the house. If a player wagers $5 on either red or black and that color comes up, they win $10 otherwise they lose their wager. What is the expected value of playing the game once

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Mít Mít 2 weeks 2021-07-22T07:24:43+00:00 1 Answers 1 views 0

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    2021-07-22T07:26:13+00:00

    Answer:

    -$0.26

    Step-by-step explanation:

    Calculation to determine the expected value of playing the game once

    Expected value= [18/(18+18+2) x $5)]- [20/(18+18+2) x $5]

    Expected value= ($18/38 x $5) – (20/38 x $5)

    Expected value= ($2.37-$2.63)

    Expected value= -$0.26

    Therefore the expected value of playing the game once is -$0.26

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