A roulette wheel has 38 numbers, 1 through 36, 0, and 00. One-half of the numbers from
Question:
A roulette wheel has 38 numbers, 1 through 36, 0, and 00. One-half of the numbers from 1 through 36 are red, and the other half are black; 0 and 00 are green. A ball is rolled, and it falls into one of the 38 slots, giving a number and a color. The payoffs (winnings) for a $1 bet are as follows:
If a person bets $1, find the expected value for each.
a. Red
b. Even
c. 00
d. Any single number
e. 0 or 00
Transcribed Image Text:
Red or black Odd or even 1-18 9-36 $1 $1 $1 $1 0 $35 $35 00 Any single number $35 0 or 00 $17
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a Red The expected value for betting 1 on red is 1838 or 047368421 b Even ...View the full answer
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Related Book For
Elementary Statistics A Step By Step Approach
ISBN: 9780077665807
9th Edition
Authors: Allan G. Bluman
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