1. In American roulette, a bettor may place a $1 bet on any one of the 38...

Question:

1. In American roulette, a bettor may place a $1 bet on any one of the 38 numbers on the roulette wheel. They win $35 (plus the return of their bet) if the ball lands on their number; otherwise, they lose their bet. Write down the probability for the earnings from this type of bet, and find the expected value.
2. In American roulette, a dollar may be bet on a pair of numbers. The expected earnings for this type of bet is -$ 1/19. How much money does the bettor receive if the ball lands on one of the two numbers?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...