Question

in the game of​ roulette, a player can place a ​$9 bet on the number 5 and have a 1/38 probability of winning.

If the metal ball lands on 5, the player gets to keep the ​$9 paid to play the game and the player is awarded an additional ​$315. ​Otherwise, the player is awarded nothing and the casino takes the​ player’s ​$9. 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? Note that the expected value is the​ amount, on​ average, one would expect to gain or lose each game.

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