Find the expected value for the bettor of a $20 bet of one play on red...

Question

Question

Find the expected value for the bettor of a $20 bet of one play on red in roulette. Round to the fourth as needed.

math Statistics-And-Probability

Answer 1

Answer #1

probability of red on roulette.P(X=20) =18/38 (snce on 18 places red is there)

P(losing) =P((X=-20)=1-18/38 =20/38

therefore expected value =20*(18/38)-20*(20/38)= -1.0526

Answer 2

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