5 of 11 (5 This Quiz: 14 pts possible In the game of roulotte, a player can plac

Question

5 of 11 (5 This Quiz: 14 pts possible In the game of roulotte, a player can place a $10 bet on the number 2 and have a $10 paid to play the game and the player is awarded an addtional $350 Otherwise, the player is expected value of the game to the player? If you played the game 1000 times, how average, one would expect to gain or lose each game probability of winning If he metal bal The expected value is (Round to the nearest cent as needed ) awarded nothing and the casino takes the player's $10. What is the much would you expect to lose? Note that the expected value is the amount, on The player would expect to lose about $ (Round to the nearest cent as needed ) Enter your answer in each of the answer boxes.

Explanation / Answer

expected value =expected gain -expected loss =350*(1/38)-10*(37/38)= $ -0.53

for 1000 games expected loss =$-526.32

(please revert )

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