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At roulette, there are 38 slots. A "column" consists of 12 of these slots. A column pays 2 to 1. So, if you risk $1 on a column and win, you net gain +2 dollars. If you lose, your net equals –1 dollar. Suppose you will play for 100 rounds and bet one dollar on a column each round. (You may enter values rounded to the nearest cent. Beware of carried rounding error.) Your average net gain per play equals o.0526 dollars. The SD of your net gain per play equals 1.39 dollars. The expected value of your total net gain after 100 plays equals -5.3 dollars. The standard error of your total net gain after 100 plays equals 13.94 dollars.

At roulette, there are 38 slots. A "column" consists of 12 of these slots. A column pays 2 to 1. So, if you risk $1 on a column and win, you net gain +2 dollars. If you lose, your net equals –1 dollar. Suppose you will play for 100 rounds and bet one dollar on a column each round. (You may enter values rounded to the nearest cent. Beware of carried rounding error.) Your average net gain per play equals o.0526 dollars. The SD of your net gain per play equals 1.39 dollars. The expected value of your total net gain after 100 plays equals -5.3 dollars. The standard error of your total net gain after 100 plays equals 13.94 dollars.

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.5: Counting Principles
Problem 40SE: A family consisting of 2 parents and 3 children is to pose for a picture with 2 family members in...
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At roulette, there are 38 slots. A "column" consists of 12 of these slots. A column pays 2 to 1. So, if you risk $1 on a column and win, you net gain +2 dollars. If you lose, your net equals –1 dollar. Suppose you will play for 100 rounds and bet one dollar on a column each round. (You may enter values rounded to the nearest cent. Beware of carried rounding error.) Your average net gain per play equals 0.0526 dollars. The SD of your net gain per play equals 1.39 dollars. The expected value of your total net gain after 100 plays equals -5.3 dollars. The standard error of your total net gain after 100 plays equals 13.94 dollars.
Transcribed Image Text:At roulette, there are 38 slots. A "column" consists of 12 of these slots. A column pays 2 to 1. So, if you risk $1 on a column and win, you net gain +2 dollars. If you lose, your net equals –1 dollar. Suppose you will play for 100 rounds and bet one dollar on a column each round. (You may enter values rounded to the nearest cent. Beware of carried rounding error.) Your average net gain per play equals 0.0526 dollars. The SD of your net gain per play equals 1.39 dollars. The expected value of your total net gain after 100 plays equals -5.3 dollars. The standard error of your total net gain after 100 plays equals 13.94 dollars.
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