Determine the expected value


In the game of roulette, if you bet on the single number $35 for each $1 you wager. There are 18 black, 18 red as well as 2 green slots on the roulette wheel. If your basic bet is $5, determine the expected value for you when you place your bet. If you played this game 1000 times, how much would expect to lose?

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Basic Statistics: Determine the expected value
Reference No:- TGS0860065

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