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Elena L [17]
2 years ago
14

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
Mathematics
1 answer:
m_a_m_a [10]2 years ago
5 0

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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