Question

Asked Sep 29, 2019

In a popular casino game, you can bet one whether a ball will fall in an arc on a wheel colored red, black, or green. Say the probability of a red outcome is

StartFraction 18 Over 37 EndFraction1837,

that of a black outcome is
StartFraction 18 Over 37 EndFraction1837,

and that of a green outcome is
StartFraction 1 Over 37 EndFraction137.

Suppose someone makes a
$22

bet on
blackblack.

Find the expected net winnings for this single bet. Interpret the result.Choose the correct answer below and fill in the answer box to complete your choice.

(Round to three decimal places as needed.)

If the

$22

bet on
blackblack

was placed a very large number of times, the average winnings would be
____________

dollars per bet.On average, a person is expected to win

___________

dollars for any bet on the roulette wheel.If the

$22

bet on
blackblack

was placed a very large number of times, the bettor would win a total of
____________

dollars.A person will win

___________

dollars every time a
$22

bet was placed on
blackblack.

Step 1

Given Data

Step 2

Probability of winning $22 is

Step 3

Expected value is...

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