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Posted by on Wednesday, September 29, 2010 at 8:44pm.

The game of roulette uses a wheel containing 38 pockets. Thirty-six pockets are numbered 1,2.....,36, and the remaining two are marked 0 and 00. The wheel is spun, and a pocket is identified as the "winner." Assume that the observance of any one pocket is just as likely as any other.

Suppose you bet $5 on a single number--say, the number 18. The payoff on this type of bet is usually 35 to 1. What is your expected gain?

  • statistics - , Wednesday, September 29, 2010 at 9:30pm

    prob of your number coming up is 1/36

    expected gain = 35(5)(1/36) = 4.86

    So, just like in every gambling game, in the long-run you would lose.

  • statistics - , Wednesday, September 29, 2010 at 9:46pm

    thank you

  • Correction - statistics - , Wednesday, September 29, 2010 at 11:01pm

    the Prob of your number coming up is 1/38 , not 1/36

    which changes the result to
    5(35)(1/38) = 4.61

    even worse than before

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