Math Problem Statement

In American​ roulette, the wheel has the 38​ numbers, 00,​ 0, 1,​ 2, ...,​ 34, 35, and​ 36, marked on equally spaced slots. If a player bets

​$44

on a number and​ wins, then the player keeps

​$44

and receives an additional

​$140140.

​Otherwise, the player is awarded​ nothing, and the casino takes the​ player's

​$44.

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 what?

Solution

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Math Problem Analysis

Mathematical Concepts

Probability
Expected Value
Game Theory

Formulas

Expected Value formula: E(x) = (Probability of Win * Gain from Win) + (Probability of Loss * Loss Amount)

Theorems

Law of Large Numbers (implicitly involved in the concept of expected value)

Suitable Grade Level

College level or advanced high school