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In the game of roulette, a player can place a $7 bet on the number 17 and have a an probability of winning. If the metal ball lands on 17, 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. What is the expected value of the game to the player? f you played the game 1000 times, how much would you 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 17 and have a an probability of winning. If the metal ball lands on 17, 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. What is the expected value of the game to the player? f you played the game 1000 times, how much would you expect to lose? The expected value is $. (Round to the nearest cent as needed.)

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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In the game of roulette, a player can place a $7 bet on the number 17 and have a 30 probability of winning. If the metal ball lands on 17, 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. 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.)
Transcribed Image Text:In the game of roulette, a player can place a $7 bet on the number 17 and have a 30 probability of winning. If the metal ball lands on 17, 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. 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.)
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