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Expected Value (w Calculator)
4.2 Expected Value: The Mean of a Discrete Random Variable
In the game roulette, there are 18 red numbers, 18 black numbers, and two green numbers. They are all equally likely. If a person makes a $5 bet on red and a red number comes out, he/she will make a $5 profit. If another color comes out, the person will lose his original $5 bet. What is the expected value for this bet?
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