The connotation "expected value" or "expected gain" from playing roulette at a casino means
A) the amount you expect to "gain" on a single play.
B) the amount you need to "break even" over many plays.
C) the amount you expect to "gain" in the long run over many plays.
D) the amount you should expect to gain if you are lucky.

Question

Quizplus · Accepted Answer

The expected value or expected gain from playing roulette at a casino refers to the amount a player can expect to gain or lose over a large number of plays. It takes into account the probability of winning or losing on each play and the amount of money won or lost. Therefore, the correct choice is C - the amount you expect to "gain" in the long run over many plays.

The Connotation "Expected Value" or "Expected Gain" from Playing Roulette