In a game of roulette a player can place a $4 bet on the number 36 and have a 1/38 probability of winning if the metal ball lands on 36 the player gets to keep the $4 paid to play the game and the player is awarded $140 otherwise the player is awarded nothing and the casino takes the player’s $4 what is the expected value of the game to the player if you played the game 1000 times how much would you expect to lose?
Round to a nearest cent
The expected value is?
The player would expect to lose about?
Expected value: -$3.68
Player would expect to lose: $3,680