one option is roulette game is to bet 17 on red there are 18

one option is roulette game is to bet $17 on red. (there are 18 red copartments, 18 black compartments, and two compartments that are netier red nor black) if the ball lands on red,you get to keep the $17 you paid to play the game and you are awarded $17. if the ball lands elsewhere, you are awarded nothing and the $17 that you bet is collected. find the expcted payback for this roulette game if you bet $17 on red.

(Round to nearest cent)

Solution

Expected value = Amount earned * proability=17*18/38-17*20/38=$-0.8947