A roulette wheel has the numbers 1 through 36, 0, and 00. A bet on two numbers pays 17 to 1 (that is, if one of the two numbers you bet comes up, you get back your $1 plus another $17). How much do you expect to win with a $10 bet on two numbers Please, round your answer to the nearest thousandth of a dollar. ?
A)You expect to lose $10 on each spin of the wheel.
B) You expect to win $0.53 on each spin of the wheel.
C) You expect to lose $0.53 on each spin of the wheel.
D) You expect to win $10 on each spin of the wheel.
E) You expect to win $1.06 on each spin of the wheel.

Question

A roulette wheel has the numbers 1 through 36, 0, and 00. A bet on two numbers pays 17 to 1 (that is, if one of the two numbers you bet comes up, you get back your $1 plus another $17). How much do you expect to win with a $10 bet on two numbers  Please, round your answer to the nearest thousandth of a dollar. ?
A)You expect to lose $10 on each spin of the wheel.
B) You expect to win $0.53 on each spin of the wheel.
C) You expect to lose $0.53 on each spin of the wheel.
D) You expect to win $10 on each spin of the wheel.
E) You expect to win $1.06 on each spin of the wheel.

Quizplus · Accepted Answer

The expected value calculation for a $10 bet on two numbers in roulette, considering the 38 possible outcomes (1-36, 0, 00), is: [(2/38) * $170] - [(36/38) * $10] = -$0.5263, rounded to -$0.53, indicating an expected loss of $0.53 per spin.

A Roulette Wheel Has the Numbers 1 Through 36, 0