When playing roulette at a casino, a gambler is trying to decide whether to bet $15 on the number 11 or to bet $15 that the outcome is any one of the three possibilities 00, 0, or 1. The gambler knows that the expected value of the $15 bet for a single number is – 0.79¢. For the $15 bet that the outcome is 00, 0, or 1, there is a of making a net profit of $45 and a 38 35 probability of losing $15. probability of 38 a. Find the expected value for the $15 bet that the outcome is 00, 0, or 1. b. Which bet is better: a $15 bet on the number 11 or a $15 bet that the outcome is any one of the numbers 00, 0, or 1? Why? a. The expected value is $ (Round to the nearest cent as needed.)

Q: Solve the following problems completely. 1. A roulette wheels contains 50 numbers: 30 are red and 20…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $20 on the number 24…

A: Given that for the $20 bet that the outcome is 00,0,1,2,or3, there is a probability of 538 of making…

Q: A mining company is considering two sites on which to dig, described as follows: Site A: Profit if…

A:

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $20 on the number 26…

A: Given Information: For the $20 bet the outcome is 00,0,or1,  there is a probability of 3/38 of…

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $5 on the number 13…

A: E(number 13 bet) = -0.26 cents P($20 profit) = 3/38 P($5loss) = 35/38

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $10 on the number 14…

A: Given, The expected value of $10 bet for a single number is -$1.06

Q: Consider a game where there is a $2,520 prize if a player correctly guesses the outcome of a fair…

A: Given information: Consider a game where there is a $2,520 prize if a player correctly guesses the…

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $20 on the number 37…

A: From the given information, Consider, X be the random variable that show the winning amount or net…

Q: When playing roulette at a​ casino, a gambler is trying to decide whether to bet ​$15 on the number…

A: Given : Three posibilities = 00 , 0 , 1 X P(X) 45 338 -15 3538

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $5 on the number 38…

A: Reviewing information, E($5 bet on no. 38)=-0.26 cents For $5 bet on 5 outcomes(00,0,1,2 or 3)…

Q: Is the following a probability model? What do we call the outcome "green"? Color Probability red 0.1…

A: The condition for any model to be probability model is:

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $15 on the number 23…

A: Reviewing information, Expected value of $15 bet for 23 =-$1.58 For $15 bet on outcome 00,0,1…

Q: When playing roulette at a​ casino, a gambler is trying to decide whether to bet ​$15 on the number…

A: Given information: Total number on given roulette at a​ casino = 38(00, 0, 1, 2, 3, 4, 5,…

Q: is sale records, a salesman knows that his weekly commissions have the probabilities shown below.…

A: The expectation formula is:

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $10 on the number 20…

A:

Q: The records of a fancy shoe store show that 60% of customers making a purchase pay by credit card.…

A: We have given that  p=60%=0.60 , q=1-0.60=0.40  n=10 X~Binomial(n=10,p=0.60)

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $15 on the number 29…

A:

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $5 on the number 32…

A: a)The formula for finding the expected value is shown below:

Q: When playing roulette at a​ casino, a gambler is trying to decide whether to bet ​$15on the number…

A: a) The probability distribution table is x P(x) +90 538 -15 3338 The expectation is given…

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $10 on the number 34…

A: From the provided information, For the $10 bet that the outcome is 00, 0, 1, 2, or 3, there is a…

Q: When playing roulette at a​ casino, a gambler is trying to decide whether to bet ​$5 on the number…

A: Given Information: The gambler knows that the expected value of the $5 bet for a single number is…

Q: A guessing game at a casino features 50 cards labeled with the numbers 1 though 50. Four cards will…

A:

Q: A game of chance involves rolling an unevenly balanced 4-sided die. The probability that a roll…

A:

Q: Is the table above an example of a probability model? O A. No, because not all the probabilities are…

A: The model is said to be probability model if sum of all probabilities is equal to 1 and all…

Q: A. Suppose you roll a die with probability of 1 being 1/15, 2 being 2/15, 3 being 4/15, 4 being…

A: A. It is given that, a die is rolled with probability of 1 being 1/15, 2 being 2/15, 3 being 4/15, 4…

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $10 on the number 32…

A: Given information- We have given the probability of making $60 profit for the $10 bet that the…

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $5 on the number 27…

A: Given For the $5 bet that the outcome is 00,0,1,2 or 3, Probability of making a net profit of…

Q: When playing roulette at a​ casino, a gambler is trying to decide whether to bet ​$10 on the number…

A: 1] Probability of making a net profit of ​$60 =538  2] Probability of losing $10 =3338

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $10 on the number 25…

A: Given :  There is a probability of 5/38 of making a net profit of $60 and a 33/38 probability of…

Q: In probability, a fair game is when expected value is positive. True O False

A: Probability is a branch of mathematics or statistics which basically deals with the chances of…

Q: One option in a roulette game is to bet $13 on red.​ (There are 18 red compartments, 18 black…

A: The total number of red compartments = 18The total number of non red compartments  = 18=2 = 20The…

Q: When playing roulette at a​ casino, a gambler is trying to decide whether to bet ​$10 on the number…

A: Given datawgen playing a roulette at a casino a gambler is trying to decide on bet $10on he number…

Q: Assume that the drawer contains 9 coins: 4 quarters, 1 dimes, and 4 nickels. One coin is randomly…

A: Type Number Probability, p Value, n (in dollars) Expected value, np Nickel 4…

Q: When playing roulette at a​ casino, a gambler is trying to decide whether to bet ​$5 on the number…

A:

Q: Is the following a probability model? What do we call the outcome "yellow"? Color Probability red…

A: First question: It is known that for a probability model, the sum of all probabilities corresponding…

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $20 on the number 31…

A: Answer is explained below

Q: If p represents the probability of success of a player in any game and M represents the sum of money…

A: Let p be the probability of success  of a player in any game  M be the sum of money

Q: A Toyota Fortuner that has been filled with gasoline has a 0.25 chance of needing an oil change; a…

A: Obtain the probability that the oil has to be changed if a new oil filter is needed. The probability…

Q: n a coin and die game, you roll a fair six-sided die and toss a coin. If you roll a 6 and toss a…

A: P(getting a 6 in die) = 16 P(getting a tail in coin) = 12 P(getting a 6 in die and tail in coin) =…

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $5 on the number 13…

A: a. The expected value for the $5 bet that the outcome is 00, 0, 1, 2, or 3 is $-0.658 and it is…

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $15 on the number 16…

A: Expected value: The expected value is the sum of the product of the observed value to the…

Q: An oil company is considering two sites on which to​ drill, described as​ follows: Site​ A: Profit…

A: Site A: Profit (million) 110  -17 Probability 0.2 (1-0.2)=0.8 So the expected profit of site…

Q: When playing roulette at a​ casino, a gambler is trying to decide whether to bet ​$5 on the number…

A: Given that  Let X represent the net profit in dollar  The number $5 bet on 32 and any number 0,00,or…

Q: When playing roulette at a casino, a gambler is trying to decide whether to bet $15 on the number 17…

A: Given Information: The expected value of $15 bet for a single number is -$1.58. For the $15 bet that…

Q: b) Suppose that you and a friend are playing cards and decide to make a bet. If your friend draws…

A: Probability of getting heart on the first draw=1352 Probability of getting heart on the second…

Q: When playing roulette at a​ casino, a gambler is trying to decide whether to bet ​$15 on the number…

A: Given :  When playing roulette at a​ casino, a gambler is trying to decide whether to bet ​$15 on…

Q: What is the expected value if I buy 10 tickets (at $2 each) for a pick-8 game of Keno?  a. -$5.70…

A: It is not given that how many of total numbers are there in pick up game. Usually there are total of…

Q: Suppose the table below gives the chances of winning or losing points in a game:Points Won/Lost –100…

A:

Q: When playing roulette at a​ casino, a gambler is trying to decide whether to bet $15 on the number…

A: Given dataIf we Bet on 0,00 and 1P(win) = 3/38 P(Losing) = 35/38a)expected value for the $15bet that…

Q: When playing roulette at a​ casino, a gambler is trying to decide whether to bet ​$10 on the number…

A: From the provided information, For the $10 bet that the outcome is 00, 0, 1, 2, or 3, there is a…

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.