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## A roulette wheel has the numbers 1 through 36, 0, and 00. A bet on four numbers pays 8 to 1 (that is, if you bet $1 and one of the four numb

Question

A roulette wheel has the numbers 1 through 36, 0, and 00. A bet on four numbers pays 8 to 1 (that is, if you bet $1 and one of the four numbers you bet comes up, you get back your $1 plus another $8). How much do you expect to win with a $1 bet on four numbers? HINT [See Example 4.] (Round your answer to the nearest cent.)

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Math
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2021-09-13T14:06:25+00:00
2021-09-13T14:06:25+00:00 1 Answer
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## Answers ( )

Answer:Lose $0.05

Step-by-step explanation:There are 38 possible spots on the roulette wheel (numbers 1 to 36, 0 and 00).

If the player can choose four numbers on single $1 bet, his chances of winning (W) and losing (L) are as follows:

The expected value of the bet is given by the probability of winning multiplied by the payout ($8), minus the probability of losing multiplied by the bet cost ($1)

On each bet, the player is expected to lose 5 cents ($0.05).