# Question: A roulette wheel has 38 slots One slot is 0

A roulette wheel has 38 slots. One slot is 0, another is 00, and the others are numbered 1 through 36, respectively. You place a bet that the outcome is an odd number.

a. What is your probability of winning?

b. What are the actual odds against winning?

c. When you bet that the outcome is an odd number, the payoff odds are 1:1. How much profit do you make if you bet $ 18 and win?

d. How much profit would you make on the $18 bet if you could somehow convince the casino to change its payoff odds so that they are the same as the actual odds against winning? (.Recommendation: Donâ€™t actually try to convince any casino of this; their sense of humor is remarkably absent when it comes to things of this sort.)

a. What is your probability of winning?

b. What are the actual odds against winning?

c. When you bet that the outcome is an odd number, the payoff odds are 1:1. How much profit do you make if you bet $ 18 and win?

d. How much profit would you make on the $18 bet if you could somehow convince the casino to change its payoff odds so that they are the same as the actual odds against winning? (.Recommendation: Donâ€™t actually try to convince any casino of this; their sense of humor is remarkably absent when it comes to things of this sort.)

## Relevant Questions

When the horse Super Saver won the 136th Kentucky Derby, a $2 bet that Super Saver would win resulted in a return of $18. a. How much net profit was made from a $2 win bet on Super Saver? b. What were the payoffs odds ...If one of the test subjects is randomly selected, find the probability that the subject had a positive test result or does not use drugs. What is the probability that the selected person refused to answer? Does that probability value suggest that refusals are a problem for pollsters? Why or why not? If events A and B are disjoint and events B and C are disjoint, must events A and Cbe disjoint? Give an example supporting your answer. If 3 of the 1000 test subjects are randomly selected, find the probability that they all had correct test results (either true positive or true negative). Is such an event unlikely? a. Assume that the 3 selections are made ...Post your question