Use R to this task The original roulette table randomly selects a number from 0-36 and attaches
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Use R to this task
The original roulette table randomly selects a number from 0-36 and attaches a color to each of these number (Red, Black, and Green). Gamblers can place a bet on any red or black number but not on green. It is common for gambler to place their money on a single color. In this case a gambler doubles their money if they win. (notice that there is one green).
- From the perspective of the casino calculate the expected value of a gambler placing a $1000 bet on red.
- Calculate the population variance and standard deviation for this bet.
- Setting your random seed to 124 sample a number from 0-36. Name the number and color that would correspond to the wheel in the picture. Did you win?
- Not all roulette tables are the same! Over the course of history a different number of red and black numbers have been included. In addition many roulette tables have a second green space with a double 00! Considering a single color bet (as above) would a casino prefer to use a roulette table with 48 red and black tiles and 2 green space or the roulette table that was described above? Explain?
R function of use: c() for creating vectors, weighted.mean(), set.seed(), sample(), general math expressions
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