Homework Help is Here – Start Your Trial Now!
Math
Statistics
In the game of roulette, a player can place a $7 bet on the number 14 and have a probability of winning. If the metal ball lands on 14, the player gets to keep the $7 paid to play the game and the player is awarded an additional $245. 38 Otherwise, the player is awarded nothing and the casino takes the player's $7. Find the expected value E(x) to the player for one play of the game. If x is the gain to a player in a game of chance, then E(x) is usually negative. This value gives the average amount per game the player can expect to lose. The expected value is $. (Round to the nearest cent as needed.)

In the game of roulette, a player can place a $7 bet on the number 14 and have a probability of winning. If the metal ball lands on 14, the player gets to keep the $7 paid to play the game and the player is awarded an additional $245. 38 Otherwise, the player is awarded nothing and the casino takes the player's $7. Find the expected value E(x) to the player for one play of the game. If x is the gain to a player in a game of chance, then E(x) is usually negative. This value gives the average amount per game the player can expect to lose. The expected value is $. (Round to the nearest cent as needed.)

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.4: Expected Value
Problem 19E: Lottery In a 6/49 lottery game, a player pays $1 and selects six numbers from 1 to 49. Any player...
See similar textbooks
icon
Related questions
Question
1 In the game of roulette, a player can place a $7 bet on the number 14 and have a 38 probability of winning. If the metal ball lands on 14, the player gets to keep the $7 paid to play the game and the player is awarded an additional $245. Otherwise, the player is awarded nothing and the casino takes the player's $7. Find the expected value E(x) to the player for one play of the game. If x is the gain to a player in a game of chance, then E(x) is usually negative. This value gives the average amount per game the player can expect to lose. The expected value is $ (Round to the nearest cent as needed.)
Transcribed Image Text:1 In the game of roulette, a player can place a $7 bet on the number 14 and have a 38 probability of winning. If the metal ball lands on 14, the player gets to keep the $7 paid to play the game and the player is awarded an additional $245. Otherwise, the player is awarded nothing and the casino takes the player's $7. Find the expected value E(x) to the player for one play of the game. If x is the gain to a player in a game of chance, then E(x) is usually negative. This value gives the average amount per game the player can expect to lose. The expected value is $ (Round to the nearest cent as needed.)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
SEE MORE TEXTBOOKS