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Roulette wheels have 38 numbers (1 through 36 plus 0 and 00) of which 18 are...

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Statistics

Roulette wheels have 38 numbers (1 through 36 plus 0 and 00) ofwhich 18 are red, 18 are black, and the 0 and 00 are green. Abettor may place a $1 bet on any one of the 38 numbers. The bettorwins $35 (bettor gets his $1 back) if the ball lands on his number,otherwise he loses his bet.

a) Find the expected value of the game.

b) What is wrong about how the casino pays a winner if they beton a single number?

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