In the American Version of the Game Roulette, a Wheel

question 100

Multiple Choice

In the American version of the Game Roulette, a wheel has 18 black slots, 8 red slots and 2 green slots. All slotsare the same size. In a carnival game, a person wagers $2 on the roll of two dice. A person can wager on eitherred or black. Green is reserved for the house. If a player wagers $5 on either red or black and that color comesup, they win $10 otherwise they lose their wager. What is the expected value of playing the game once?

• A) -$0.26
• B) -$0.50
• C) $0.26
• D) $0.50

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Definitions:

Invitation to Do Business

An offer or solicitation made by a business seeking to engage with potential clients or customers.

Final Offer

The last proposal or statement of conditions one party will accept during negotiations.

Negotiating

The process of discussing terms and conditions in order to reach a mutual agreement.

Binding Contract

An agreement that is legally enforceable in a court of law, requiring all parties to fulfill their obligations as outlined.