A roulette wheel has 38 numbers, with 18 odd numbers (black) and 18 even numbers (red),...
A roulette wheel has 38 numbers, with 18 odd numbers (black) and 18 even numbers (red), as well as 0 and 00 (which are green). If you bet $19 that the outcome is an odd number, the probability of losing the $19 is 20/38 and the probability of winning is $38 (for a net gain of only $19, given you already paid $19) is 18/38.
If a player bets $19 that the outcome is an odd number, what is the player's expected value? (The answer is -$1.00). *****Please show the calculation of how they came to the (-$1.00)*****
Homework Answers
Expected value = net gain * P(winning) - net loss * P(loosing)
= (19 * 18/38) - (19 * 20/38)
= -$ 1 (ans)
Add Answer to:
A roulette wheel has 38 numbers, with 18 odd numbers (black) and
18 even numbers (red),...
Problem 3 (Quiz). Recall that an American Roulette wheel has 38 possible outcomes, 18 black, 18...
Problem 3 (Quiz). Recall that an American Roulette wheel has 38 possible outcomes, 18 black, 18 red and 2 green. The numbers go from 1 to 36, and the green outcomes are numbered 0 and 00. Someone places İO bets on "1st 12", that is, that person wins if the outcome is any number between 1 and 12, included. 1. What is the probability of losing 8 out of the 10 total bets?
4.28 An American roulette wheel has 18 red numbers, 18 black numbers, and 2 gree Assume...
4.28 An American roulette wheel has 18 red numbers, 18 black numbers, and 2 gree Assume all numbers are equally likely a. What is the probability the number is red? Black? Green? b. The player can make simple bets on the color. A dollar bet on red or blac n numbers. k returns a dollar the variance of this bet? profit if red or black comes up. What is the expected value of this bet? What is c Abet on...
An American roulette wheel contains 38 numbers: 18 are red, 18 are black, and 2 are...
An American roulette wheel contains 38 numbers: 18 are red, 18 are black, and 2 are green. When the roulette wheel is spun, the ball is equally likely to land on any of the 38 numbers. Suppose that you bet $10 on red. If the ball lands on a red number, you win $10; otherwise you lose $10. Let X = the amount that you win.
(5.31) A roulette wheel has 38 slots, of which 18 are black, 18 are red, and...
(5.31) A roulette wheel has 38 slots, of which 18 are black, 18 are red, and 2 are green. When the wheel is spun, the ball is equally likely to come to rest in a any of the slots. Gamblers can place a number of different bets in roulette. One of the simplest wagers chooses red or black. A bet of $1 on red will pay off an additional dollar if the ball lands in a red slot. Otherwise, the...
In the game of roulette, when a player gives the casino $1 for a bet on...
In the game of roulette, when a player gives the casino $1 for a bet on the number 24, the player has a 37/38 probability of losing $1 and a 1/38 probability of making a net gain of $35. (The prize is $36, but the player's $1 bet is not returned, so the net gain is $35.) If a player bets $1 that the outcome is an odd number, the probability of losing $1 is 20/38 and the probability of...
2. An American roulette wheel contains 38 numbers: 18 are red, 18 are black, and 2...
2. An American roulette wheel contains 38 numbers: 18 are red, 18 are black, and 2 are green. When the roulette wheel is spun, the ball is equally likely to land on any of the 38 numbers. Suppose that you bet $1 on red. If the ball lands on a red number, you win $1; otherwise you lose your $1. Let X be the amount you win on your $1 bet. (b) Find the expected value of the random| variable...
The expected number of fair roulette wheel are Black (18/38) green (2/38) and Red (18/38). The...
The
expected number of fair roulette wheel are Black (18/38) green
(2/38) and Red (18/38). The roulette wheel was spun many times the
observed frequency for Black were 149 for Green were21 and for Red
were 134. Use α=0.05 to test if this wheel is fair number of
frequencies.
1-The expected number of fair roulette wheel are Black (18/38) green (2/38) and Red (18/38). The roulette wheel was spun many times the observed frequency for Black were 149 for Green...
Roulette is one of the most common games played in gambling casinos in Las Vegas and...
Roulette is one of the most common games played in gambling casinos in Las Vegas and elsewhere. An American roulette wheel has slots marked with the numbers from 1 to 36 as well as 0 and 00 (the latter is called "double zero"). Half of the slots marked 1 to 36 are colored red and the other half are black. (The 0 and 00 are colored green.) With each spin of the wheel, the ball lands in one of these...
A roulette wheel has 38 slots, numbered 0, 00, and 1 to 36. The slots 0...
A roulette wheel has 38 slots, numbered 0, 00, and 1 to 36. The slots 0 and 00 are colored green, 18 of the others are red, and 18 are black. The dealer spins the wheel and at the same time rolls a small ball along the wheel in the opposite direction. The wheel is carefully balanced so that the ball is equally likely to land in any slot when the wheel slows. Gamblers can bet on various combinations of...
2. (From the Fall 2017 takehome.) In American roulette, a roulette wheel with 38 possible outcomeste...
2. (From the Fall 2017 takehome.) In American roulette, a roulette wheel with 38 possible outcomeste numbers 1 to 36, "0", and "00" is spun. As the wheel spins, players makes bets on which number the ball w land on. Eventually the wheel stops, and a ball lands randomly on one of the 38 numbers, with an equal probability for each one. A statistics professor's father bets that the wheel wil land on one of the numbers from 1 to...
Problem 3 (Quiz). Recall that an American Roulette wheel has 38 possible outcomes, 18 black, 18 red and 2 green. The numbers go from 1 to 36, and the green outcomes are numbered 0 and 00. Someone places İO bets on "1st 12", that is, that person wins if the outcome is any number between 1 and 12, included. 1. What is the probability of losing 8 out of the 10 total bets?
4.28 An American roulette wheel has 18 red numbers, 18 black numbers, and 2 gree Assume all numbers are equally likely a. What is the probability the number is red? Black? Green? b. The player can make simple bets on the color. A dollar bet on red or blac n numbers. k returns a dollar the variance of this bet? profit if red or black comes up. What is the expected value of this bet? What is c Abet on...
2. An American roulette wheel contains 38 numbers: 18 are red, 18 are black, and 2 are green. When the roulette wheel is spun, the ball is equally likely to land on any of the 38 numbers. Suppose that you bet $1 on red. If the ball lands on a red number, you win $1; otherwise you lose your $1. Let X be the amount you win on your $1 bet. (b) Find the expected value of the random| variable...
The
expected number of fair roulette wheel are Black (18/38) green
(2/38) and Red (18/38). The roulette wheel was spun many times the
observed frequency for Black were 149 for Green were21 and for Red
were 134. Use α=0.05 to test if this wheel is fair number of
frequencies.
1-The expected number of fair roulette wheel are Black (18/38) green (2/38) and Red (18/38). The roulette wheel was spun many times the observed frequency for Black were 149 for Green...
2. (From the Fall 2017 takehome.) In American roulette, a roulette wheel with 38 possible outcomeste numbers 1 to 36, "0", and "00" is spun. As the wheel spins, players makes bets on which number the ball w land on. Eventually the wheel stops, and a ball lands randomly on one of the 38 numbers, with an equal probability for each one. A statistics professor's father bets that the wheel wil land on one of the numbers from 1 to...
Most questions answered within 3 hours.
-
Consider a 3m x 3m window in a house. The thermal conductivity
is reported to be...
asked 11 minutes ago -
Why has California been the favorite destination of large number
of secondary migrants?
asked 44 minutes ago -
Do not neglect the old for the new. The existing business must
not lose priority simply...
asked 3 hours ago -
Kylie is a single mom with two dependent children,
Tanner, age 7 and Olivia, age 11....
asked 5 hours ago -
Phosphorous + bromine = phosphorous tribromide. If 35.0 g of
bromine are reacted and 27.9 grams...
asked 6 hours ago -
Derive the long wavelength limit of the Planck energy density
distribution
asked 6 hours ago -
Calculate the pH of each of the following solutions.
0.50 M HBr
3.1×10−4 M KOH
4.2×10−5...
asked 9 hours ago -
For the year ended December 31, Depot Max’s cost of merchandise
sold was $85,600. Inventory at the...
asked 9 hours ago -
Week 10 - Professional Memo Assignment
Professional Memo Assignment
Your mission for this week, should you...
asked 10 hours ago -
Write a Python program that stores the data for each
player on the team, and it...
asked 10 hours ago -
In
the last 3 months, mike never knows when he is going to get his
allowance...
asked 10 hours ago -
Is Ca(OH)2 a Bronsted base, Lewis base, or both? Why?
asked 10 hours ago