1 In the game of roulette a player can place a 6 bet on the...
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1 In the game of roulette a player can place a 6 bet on the number 1 and have a 38 probability of winning If the metal ball lands on 1 the player gets to keep the 6 paid to play the game and the player is awarded an additional 210 Otherwise the player is awarded nothing and th casino takes the player s 6 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 Note that the expected value is the amount on average one would expect to gain or lose each game The expected value is Round to the nearest cent as needed The player would expect to lose about Round to the nearest cent as needed
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