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
To calculate the expected value for the player in one game of American roulette, we’ll use the following steps:
-
Identify the possible outcomes and probabilities:
- The player wins if the ball lands on the chosen number (1 out of 38 possible slots).
- The player loses if the ball lands on any of the other 37 slots.
-
Calculate the probabilities of each outcome:
- Probability of winning:
- Probability of losing:
-
Define the outcomes:
- Winning outcome: The player gains $140140 in winnings and keeps the $44 bet. This makes the total gain .
- Losing outcome: The player loses their $44 bet, so the total gain is .
-
Calculate the expected value: The expected value is calculated as:
Let’s plug in the values:
- Winning part:
- Losing part:
Combining these results:
Answer:
The expected value to the player for one play of the game is approximately $3646.16.
Would you like a detailed breakdown of each calculation step, or do you have specific questions?
Relative Questions:
- How would the expected value change if the payout were different?
- What happens to if there are fewer or more numbers on the wheel?
- Why is the expected value generally negative in most casino games?
- How does the house edge affect the probability of winning in roulette?
- What other betting strategies could impact the expected value in roulette?
Tip: Expected values give a long-term average but don’t predict short-term results.
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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
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