Part B. Consider what makes a bet better, compare the expected earnings.

When playing roulette at a casino, a gambler is trying to decide whether to bet $10 on the number 19 or to bet $10 that the outcome is any one of the five possibilities 00, 0, 1, 2, or 3. The gambler knows that the expected value of the $10 bet for a single number is - 53. For the $10 bet that the outcome is 00, 0, 1. 2, or 3, there is a probability of 2 of making a net profit of $50 and a - probability of losing $10. a. Find the expected value for the $10 bet that the outcome is 00, 0, 1, 2, or 3. b. Which bet is better: a $10 bet on the number 19 or a $10 bet that the outcome is any one of the numbers 00, 0, 1, 2, or 3? Why? a. The expected value is $ (Round to the nearest cent as needed.)