Question: Please answer a and b First drop down for B is greater or less When playing roulette at a casino, a gambler is trying to

 Please answer a and b First drop down for B is

Please answer a and b First drop down for B is greater or less

greater or less When playing roulette at a casino, a gambler is

When playing roulette at a casino, a gambler is trying to decide whether to bet $15 on the number 16 or to bet $15 that the outcome is any one of the five possibilities 00, 0, 1, 2, or 3. The gambler knows that the expected value ofthe $15 bet for a single number is 5 33 - 79. For the $15 bet that the outcome is 00, 0, 1, 2, or 3, there is a probability of E of making a net prot of $90 and a 38 probability of losing $15. 3. Find the expected value for the $15 bet that the outcome is 00, 0, 1, 2, or 3. b. Which bet is better: a $15 bet on the number 16 or a $15 bet that the outcome is any one of the numbers 00, 0, 1, 2, or 3? Why? a. The expected value is 35 (Round to the nearest cent as needed.) b. Since the expected value of the bet on the number 16 is El than the expected value for the bet that the outcome is 00, 0, 1, 2, or 3, the bet on E is better. the single number 00, 0, 1,2, or3

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