When playing roulette at a​ casino, a gambler is trying to decide whether to bet ​$20 on the number 10 or to bet ​$20 that the outcome is any one of the three possibilities 00 comma 0 comma or 1. The gambler knows that the expected value of the ​$20 bet for a single number is negative $ 1.05. For the ​$20 bet that the outcome is 00 comma 0 comma or 1​, there is a probability of StartFraction 3 Over 38 EndFraction
of making a net profit of ​$80 and a StartFraction 35 Over 38 EndFraction
probability of losing ​$20.