In American roulette, the wheel contains the numbers 1 through 36 , alternating between black and red. There are two green spaces numbered 0 and 00 . A player places a bet of \( \$ 1.75 \) on red to play the game. If the ball lands on red, the player gets a \( \$ 1.75 \) for winning and receives the money back. If the ball does not land on red, then the player simply loses the \( \$ 1.75 \) placed on the bet. If the player places the same bet on red 7 times, what is the player's expected winnings? Multiply each pair of values together and add the products to find the player's expected winnings. E(winnings \( )=\frac{9}{19}(\$ 1.75)+\frac{10}{19}(-\$ 1.75) \approx-\$ 0.09 \) Identify the possible outcomes of random variable \( W \) with respective probabilities of occurring \( P(W) \) Write the probability of the ball landing on a red pocket; make sure to
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In American roulette, there are 18 red numbers, 18 black numbers, and 2 green spots (0 and 00) on the wheel. Therefore, the total number of slots is 38. This leads to the probability of landing on a red pocket being \( P(Red) = \frac{18}{38} \approx 0.474 \) and the probability of not landing on red, which includes black and green, being \( P(Not Red) = \frac{20}{38} \approx 0.526 \). Now, if you place the same bet of \( \$1.75 \) on red for 7 times, you're not just playing one round but embracing an adventure with every spin! Each time you win, you earn back your bet plus the winnings, but if you lose, that bet adds up to your total losses. Your combined winnings can be expressed using expected values and probabilities, giving you insight into the thrill of the game while keeping in mind that the odds are truly against a player over time!