statistics
posted by Anonymous on .
The game of roulette uses a wheel containing 38 pockets. Thirtysix pockets are numbered 1, 2, 3, ..., 35, 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?

175(1/38)  5(37/38) = ?
Of course, strictly speaking, you won't "win" exactly $175 on 18, because $5 of that was your original bet.