A roulette wheel has 38 numbers, 1 through 36, 0, and 00. One-half of the numbers from 1 through 36 are red, and the other half are black; 0 and 00 are green. A ball is rolled, and it falls into one of the 38 slots, giving a number and a color. The payoffs (winnings) for a $1 bet are as follows:

If a person bets $1, find the expected value for each.

a. Red
b. Even
c. 00

d. Any single number

e. 0 or 00

Transcribed Image Text:

Red or black Odd or even 1-18 9-36 $1 $1 $1 $1 0 $35 $35 00 Any single number $35 0 or 00 $17