Math Problem Statement
One of the wagers in the game of roulette is to place a bet that the ball will land on a black number. (Eighteen of the numbers are black, 18 are red, and two are green.) If the ball lands on a black number, the player wins the amount of his bet. If a player bets $2, find the player's expectation. (Round your answer to two decimal places.)
Solution
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Math Problem Analysis
Mathematical Concepts
Probability
Expected Value
Formulas
P(black) = 18 / 38
P(not black) = 1 - P(black) = 20 / 38
Expected value E = (win amount * P(win)) + (loss amount * P(loss))
Theorems
Law of Total Probability
Suitable Grade Level
Grades 10-12