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 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?

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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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 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?

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