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ProbabilityQ&A Libraryx50040302010Games of Chance Find the expected winnings for the games ofchance described in Exercises 17-20. (See Example 5.)17. In one form of roulette, you bet $1 on "even." If one of the 18positive even numbers comes up, you get your dollar back, plusanother one. If one of the 20 other numbers (18 odd, 0, and 00)66comes up, you lose your dollar.18. Repeat Exercise 17 if there are only 19 noneven numbers(no 00).19. Numbers is a game in which you bet $1 on any three-digit num-ber from 000 to 999. If your number comes up, you get $500.20. In one form of the game Keno, the house has a pot contain-ing 80 balls, each marked with a different number from 1 to80. You buy a ticket for $1 and mark one of the 80 numberson it. The house then selects 20 numbers at random. If yournumber is among the 20, you get $3.20 (for a net winning of$2.20).21. Online Gambling An online gambling site offers a first prizeof $50,000 and two second prizes of $10,000 each for registeredusers when they place a bet. A random bet will be selected overa 24-hour period. Two million bets are received in the contest.Find the expected winnings if you can place one registered betof $1 in the given period.22. Online Gambling An online gambling site offers a louterywith a first prize of $25,000, a second prize of $10,000, and athird prize of $5000. It takes $5 to enter and a winner is selectedat random. What are the expected winnings if 20,000 peopleenter the lottery?Question

Asked Dec 3, 2019

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Can u please do question 20.

Step 1

20.

The expected winning for the games of chance is obtained below:

From the given information, for a net winning of $2.20 and buy a ticket for $1. The house selects 20 numbers at random.

The formula for the expected winnings for the games of chance is,

Step 2

The expected winning for th...

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