A bet on “black” in Roulette has a probability of 18/38 of winning. If you win, you double your money. You can bet anywhere from $1 to $100 on each spin. a. Suppose you have $10, and are going to play until you go broke or have $20. What is your best strategy for playing? Explain using the information you learned in this module's material, such as expected value. b. Suppose you have $10, and are going to play until you go broke or have $30. What is your best strategy for playing? Explain using the information you learned in this module's material, such as expected value.
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
A bet on “black” in Roulette has a
a. Suppose you have $10, and are going to play until you go broke or have $20. What is your best strategy for playing? Explain using the information you learned in this module's material, such as
b. Suppose you have $10, and are going to play until you go broke or have $30. What is your best strategy for playing? Explain using the information you learned in this module's material, such as expected value.
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