When playing roulette at a casino, a gambler is trying to decide whether to bet $20 on the number 13 or to bet $20 that the outcome is any one of the five possibilities 00, 0, 1, 2, or 3. The gambler knows that the expected value of the $20 bet for a single number is - $2.10. For the $20 bet that the outcome is 00, 0, 1, 2, or 3, there is 5 33 38 a probability of of making a net profit of $100 and a 38 probability of losing $20. a. Find the expected value for the $20 bet that the outcome is 00, 0, 1, 2, or 3. b. Which bet is better: a $20 bet on the number 13 or a $20 bet that the outcome is any one of the numbers 00, 0, 1, 2, or 3? Why? C... A
When playing roulette at a casino, a gambler is trying to decide whether to bet $20 on the number 13 or to bet $20 that the outcome is any one of the five possibilities 00, 0, 1, 2, or 3. The gambler knows that the expected value of the $20 bet for a single number is - $2.10. For the $20 bet that the outcome is 00, 0, 1, 2, or 3, there is 5 33 38 a probability of of making a net profit of $100 and a 38 probability of losing $20. a. Find the expected value for the $20 bet that the outcome is 00, 0, 1, 2, or 3. b. Which bet is better: a $20 bet on the number 13 or a $20 bet that the outcome is any one of the numbers 00, 0, 1, 2, or 3? Why? C... A
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.8: Probabilities Of Disjoint And Overlapping Events
Problem 2C
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