Answer :
the correct question is
In the game of roulette, a player can place a $5 bet on the number 34 and have a 1/38 probability of winning. if the metal ball lands on 34, the player gets to keep the $5 paid to play the game and the player is awarded an additional $175. otherwise, the player is awarded nothing and the casino takes the player's $5. what is the expected value of the game to the player
we know that
P(winning) = 1/38
P(losing) = 1-1/38 = 37/38
Expected value = 175*1/38 - 5*37/38
175/38 - 185/38 = - 10/38 =-$0.2632
The player's expected value is -$0.2632 ( is losing)
In the game of roulette, a player can place a $5 bet on the number 34 and have a 1/38 probability of winning. if the metal ball lands on 34, the player gets to keep the $5 paid to play the game and the player is awarded an additional $175. otherwise, the player is awarded nothing and the casino takes the player's $5. what is the expected value of the game to the player
we know that
P(winning) = 1/38
P(losing) = 1-1/38 = 37/38
Expected value = 175*1/38 - 5*37/38
175/38 - 185/38 = - 10/38 =-$0.2632
The player's expected value is -$0.2632 ( is losing)