In roulette, the numbers from 1 to 36 are evenly distributed between red and black. A player who bets $1 on black wins $1 (and gets the $1 bet back) if the ball comes to rest on black; otherwise (if the ball lands on red, 0, or 00), the $1 bet is lost. One option in a roulette game is to bet $14 on red. If the ball lands on red, you get to keep the $14 you paid to play the game, and you are awarded $15. If the ball lands elsewhere, you are awarded nothing, and the $14 that you bet is collected. What is the expected value of the game?

The expected value for playing roulette if you bet $14 on red is approximately $________ (Round to the nearest cent)

Is this the question you were looking for? Place your Order Here