Homework Help is Here – Start Your Trial Now!
Math
Statistics
The expected value is $.5 (Round to the nearest cent as needed.)

The expected value is $.5 (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
See similar textbooks
icon
Related questions
Question
100%
In the game of roulette, a player can place a $9 bet on the number 29 and have a \( \frac{1}{38} \) probability of winning. If the metal ball lands on 29, the player gets to keep the $9 paid to play the game and the player is awarded an additional $315. Otherwise, the player is awarded nothing and the casino takes the player's $9. Find the expected value \( E(x) \) to the player for one play of the game. If \( x \) is the gain to a player in a game of chance, then \( E(x) \) is usually negative. This value gives the average amount per game the player can expect to lose. The expected value is $ ___ .5 (Round to the nearest cent as needed.)
Transcribed Image Text:In the game of roulette, a player can place a $9 bet on the number 29 and have a \( \frac{1}{38} \) probability of winning. If the metal ball lands on 29, the player gets to keep the $9 paid to play the game and the player is awarded an additional $315. Otherwise, the player is awarded nothing and the casino takes the player's $9. Find the expected value \( E(x) \) to the player for one play of the game. If \( x \) is the gain to a player in a game of chance, then \( E(x) \) is usually negative. This value gives the average amount per game the player can expect to lose. The expected value is $ ___ .5 (Round to the nearest cent as needed.)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS