Question
Asked Feb 4, 2020
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in the game roulette the casino will pay you 20 dollars for every dollar you bet if your number comes up (7). How much profit is the casino making on the bet? Will I set this problem up as a probability or a ratio?

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Expert Answer

Step 1

Note:

It is assumed that in the game of roulette, there is a wheel with spaces marked through 0 to 36 and a space marked 00.

Step 2

Thus, there are 38 possible events and the probability of winning the game is 1/38. Therefore, probability of losing the game is 37/38. The casino pays $20 if the number 7 comes up.

If the...

Statistics homework question answer, step 2, image 1
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