What is the expected value of the game to the? player

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Reference no: EM132015112

In the game of? roulette, a player can place a ?$9 bet on the number 5 and have a 1/38 probability of winning. If the metal ball lands on 5, the player gets to keep the ?$9 paid to play the game and the player is awarded an additional ?$315. ?Otherwise, the player is awarded nothing and the casino takes the? player's ?$9. 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? Note that the expected value is the? amount, on? average, one would expect to gain or lose each game.

Reference no: EM132015112

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