In the game of roulette, a player can place a $8 bet on the number 22 and have a 138 probability of winning. If the metal ball lands on 22, the player gets to keep the $8 paid to play the game and the player is awarded an additional $280. Otherwise, the player is awarded nothing and the casino takes theplayer's $8. What is the expected value of the game to the player? If you played the game 1000 times, how much would you expect to lose?
In the game of roulette, a player can place a $8 bet on the number 22 and have a 138 probability of winning. If the metal ball lands on 22, the player gets to keep the $8 paid to play the game and the player is awarded an additional $280. Otherwise, the player is awarded nothing and the casino takes theplayer's $8. What is the expected value of the game to the player? If you played the game 1000 times, how much would you expect to lose?
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 11ECP: A manufacturer has determined that a machine averages one faulty unit for every 500 it produces....
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Question
In the game of roulette, a player can place a
$8
bet on the number
22
and have a
138
probability of winning. If the metal ball lands on
22,
the player gets to keep the
$8
paid to play the game and the player is awarded an additional
$280.
Otherwise, the player is awarded nothing and the casino takes theplayer's
$8.
What is the expected value of the game to the player? If you played the game 1000 times, how much would you expect to lose?
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