TITLE: Statistics probability in blackjack
QUESTION [0 upvotes]: If the probability of winning at blackjack is .45, each bet is \$2 and you get \$2 if you win, what is the expected number of wins and how much money do you expect to lose if you play 300 times?
expected number of wins: (.45)(300) = 135
expected loss: .45*2+0.55*−2 = -.2
Does this seem right? I think number of wins looks right, but not expected loss.

REPLY [0 votes]: Your expected number of wins is correct.  As for the expected loss, what you calculated is the expected loss for a single play.  For $300$ such plays, the expected loss is $300$ times the value you calculated for a single play.
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