One option in a roulette game is to bet $18 on red.There are 18 red compartments,18 black compartments,and 2 compartments neither red nor black.If the ball lands on red you get to keep the $18 you paid to play the game and you are awarded $18 if the ball lands elsewhere you are awarded nothing and the $18 you bet will be collected.
1.What is the expected value of playing roulette if you bet $18 on red ?
2. Which of the statements tells what this value means ?
A. Over the long run a player can expect to lose this amount in each game
B. Over the long run the player can expect to break even
C.Over the long run the player can expect to win this amount each game
This provides an example of working with probability and expected value for a roulette game.