Math Problem Statement
In American roulette, the wheel contains the numbers 1 through 36 , alternating between black and red. There are two green spaces numbered 0 and 00 . A player places a bet of $4.50 on red to play the game. If the ball lands on red, the player gets a $4.50 for winning and receives the money back. If the ball does not land on red, then the player simply loses the $4.50 placed on the bet. Calculate the expected winnings on one game. Round your answer to the nearest cent
Solution
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Math Problem Analysis
Mathematical Concepts
Probability
Expected Value
Basic Arithmetic
Formulas
EV = (P(red) * Winnings on red) + (P(not red) * Winnings on not red)
Theorems
Law of Total Probability
Suitable Grade Level
Grades 9-12
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