Question: 6.9 More Roulette The previous exercise on roulette described two bets: one bet on the single number 23 with winnings of either $350 or -

6.9 More Roulette The previous exercise on roulette described two bets: one bet on the single number 23 with winnings of either $350 or - $10 and a different bet on black with winnings of either $10 or - $10. For both types of bets, the expected winning is - $0.53. Which of the two bets has the larger standard deviation? (Hint: Which bet has outcomes that are, on average, further from the mean?) Which bet would you prefer? Explain.

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