In the game of roulette, a player can place a $5 bet on the number 17 and have a 1/38 probability of winning. If the metal ball lands on 17, the player wins $175. Otherwise, the casino takes the player’s $5. What is the expected value of the game to the player? If you played the game 1000 times, how much would you expect to lose?
Answer to relevant QuestionsIn the Cash Five Lottery in Connecticut, a player pays $1 for a single ticket with ﬁve numbers. Five balls numbered 1 through 35 are randomly chosen from a bin without replacement. If all ﬁve numbers on a player’s ...A poll of 1200 registered voters is conducted in which the respondents are asked whether they believe Congress should reform Social Security. A binomial probability experiment is conducted with the given parameters. Compute the probability of x successes in the n independent trials of the experiment. n = 40, p = 0.99, x = 38 A binomial probability experiment is conducted with the given parameters. Compute the probability of x successes in the n independent trials of the experiment. n = 12, p = 0.35, x ≤ 4 According to the American Lung Association, 90% of adult smokers started smoking before turning 21 years old. Ten smokers 21 years old or older are randomly selected, and the number of smokers who started smoking before 21 ...
Post your question