SOLUTION: A roulette wheel has 38 slots numbered 00, 0, 1, 2, ..., 35, 36. Eighteen of the slots numbered 1 through 36 are red and eighteen are black. The 00 and 0 slots are green. The ball

Algebra ->  Probability-and-statistics -> SOLUTION: A roulette wheel has 38 slots numbered 00, 0, 1, 2, ..., 35, 36. Eighteen of the slots numbered 1 through 36 are red and eighteen are black. The 00 and 0 slots are green. The ball       Log On


   



Question 1026012: A roulette wheel has 38 slots numbered 00, 0, 1, 2, ..., 35, 36. Eighteen of the slots numbered 1 through 36 are red and eighteen are black. The 00 and 0 slots are green. The ball is spun around the wheel until it falls into one of the slots. When a gambler bets $1 on a single number and wins, he gets $36 back (i.e. his net winnings are $35). Find the expected value of this game (in dollars).
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
There are 38 numbers available.
So the probability of winning is 1/38 and of losing is 37/38.
E=%281%2F38%29%2836%29-%2837%2F38%29%280%29-1
E=36%2F38-1
E=36%2F38-38%2F38
E=-2%2F38
E=-1%2F19
E=-0.05
So you expected values is a loss of a little more than a nickel.