Question: In the game of roulette a player can place a
In the game of roulette, a player can place a $5 bet on the number 17 and have a 1/38 probability of winning. If the metal ball lands on 17, the player wins $175. Otherwise, the casino takes the player’s $5. 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?
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