Question: In the casino game of roulette, a gambler can bet on which of 38 numbers will be the result when the roulette wheel is spun. On a $2 bet, a gambler gains $70 if he or she picks the right number but loses the $2 otherwise.
a. Let X = amount gained or lost on a $2 bet on a roulette number. Write out the probability distribution of X.
b. Calculate E(X), the mean value of X. What does this value indicate about the advantage that a casino has over roulette players?