Question 437614: One of the wagers in the game of roulette is to place a bet that the ball will land on a black number. (Eighteen of the numbers are black, 18 are red, and two are green.) If the ball lands on a black number, the player wins the amount of his bet. If a player bets $2, find the player's expectation. (Round your answer to two decimal places.)
Please explain in steps what you did to get this answer
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! One of the wagers in the game of roulette is to place a bet that the ball will land on a black number. (Eighteen of the numbers are black, 18 are red, and two are green.) If the ball lands on a black number, the player wins the amount of his bet. If a player bets $2, find the player's expectation. (Round your answer to two decimal places.)
-------------------------
Random player gain numbers:::: 2, -2
Corresponding Probabilities: 18/38 , 20/38
-----------------------------------------
E(x) = 2(18/38) - 2(20/38) = -4/38 = -0.1052 dollars or -10.52 cents
==================================================
Cheers,
Stan H.
|
|
|
