(Solved): answer A and B please. When playing roulette at a casino, a gambler is trying to decide whether to ...

When playing roulette at a casino, a gambler is trying to decide whether to bet $$\$20$$ on the number 34 or to bet $$\$20$$ that the outcome is any one of the three possibilities 00,0 , or 1 . The gambler knows that the expected value of the $$\$20$$ bet for a single number is $$?\$2.10$$. For the $$\$20$$ bet that the outcome is 00,0 , or 1 , there is a probability of $$\frac{3}{38}$$ of making a net profit of $$\$60$$ and $$\frac{35}{38}$$ probability of losing $$\$20$$ a. Find the expected value for the $$\$20$$ bet that the outcome is 00,0 , or 1 . b. Which bet is better: a $$\$20$$ bet on the number 34 or a $$\$20$$ bet that the outcome is any one of the numbers 00,0, or 1 ? Why? a. The expected value is $$\$$$ (Round to the nearest cent as needed.)