Roulette is a well known game in which a mechanical device randomly selects one of 38 equally likely numbers. IF a player decides to play by choosing a number, he gains $35 if his number is selected by the device. If any other number is selceted he loses $1. Calculate the expected value and decide if this is a fair game. (Show the probablility distribution)
Ok so heres i think you do it?
(1/38)(35) + (-1)(37/38)
=-.05
So its not fair the expected value is negative??