When playing roulette at a casino, a gambler is trying to decide whether to bet $10 on the number 20 or to bet $10 that the outcome is any one of the three possibilities 00, 0, or 1. The gambler knows...

Extracted text: When playing roulette at a casino, a gambler is trying to decide whether to bet $10 on the number 20 or to bet $10 that the outcome is any one of the three possibilities 00, 0, or 1. The gambler knows that the expected value of the $10 bet for a single 3 number is -$1.06. For the $10 bet that the outcome is 00, 0, or 1, there is a probability of of making a net profit of $30 and a 38 35 probability of losing $10. 38 a. Find the expected value for the $10 bet that the outcome is 00, 0, or 1. b. Which bet is better: a $10 bet on the number 20 or a $10 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.)