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1 K In the game of roulette, a player can place a $8 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 $8 paid to play the game and the player is awarded an additional $280. Otherwise, the player is awarded nothing and the casino takes the player'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? 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.)

1 K In the game of roulette, a player can place a $8 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 $8 paid to play the game and the player is awarded an additional $280. Otherwise, the player is awarded nothing and the casino takes the player'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? 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.)

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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In the game of roulette, a player can place an $8 bet on the number 14 and have a \( \frac{1}{38} \) probability of winning. If the metal ball lands on 14, 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 the player'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? 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.)
Transcribed Image Text:In the game of roulette, a player can place an $8 bet on the number 14 and have a \( \frac{1}{38} \) probability of winning. If the metal ball lands on 14, 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 the player'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? 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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