1. In the game of roulette a metal ball is dropped into a spinning wheel having...
1. In the game of roulette a metal ball is dropped into a spinning wheel having 38
compartments, 18 of which are red, 18 are black, and two are green. Suppose we spin
the wheel ten consecutive times and let a random variable X be the number of times
the metal ball will land on a red color.
a. Construct the probability distribution of X.
b. Suppose you always bet $5 on red. If red shows up you win $5, otherwise
you lose your bet. What is the probability of
(i) making a $30 profit if you bet on ten consecutive spins of the wheel?
(ii) breaking even if you bet on ten consecutive spins of the wheel?
(iii) being $5 in deficit if you bet on ten consecutive spins of the wheel?
Homework Answers
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1. In the game of roulette a metal ball is
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