Business Analytics (2nd Edition)
2nd Edition
ISBN: 9780321997821
Author: James R. Evans
Publisher: PEARSON
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Chapter 5, Problem 7PE
(a)
To determine
To find the probability of these
(b)
To determine
To find P(G or O),P(O or F
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In American roulette, the wheel contains the numbers 1 through 36 alternating between black and red. There are two green spaces numbered 0 and 00. A player places a bet of $4.25 on red to play the game. If the ball lands on red, the player gets a $4.25 for winning and receives the money back. If the ball does not land on red, then the player simply loses the $4.25 placed on the bet. Calculate the expected winnings on one game. Round your answer to the nearest cent.
Suppose that you and a friend are playing cards and decide to make a bet. If your friend draws two spades in succession from a standard deck of 52 cards replacing the first card, you give him $50. Otherwise, he pays you $10. If the same bet was made 30 times, how much would you expect to win or lose? Round your answer to the nearest cent, if necessary.
Suppose that you and a friend are playing cards and decide to make a bet. If you draw two face cards, where a face card is a Jack, a Queen,
or a King, in succession from a standard deck of 52 cards without replacing the first card, you win $40. Otherwise, you pay your friend $10.
If the same bet was made 25 times, how much would you expect to win or lose? Round your answer to the nearest cent, if necessary.
Answer
E Keypad
Keyboard Shortcuts
O Win
O Lose
Chapter 5 Solutions
Business Analytics (2nd Edition)
Ch. 5 - Lauren drinks a vanety of soft dnnks. Over the...Ch. 5 - Consider the experiment of drawing two cards...Ch. 5 - Three coins are dropped on a table. List all...Ch. 5 - A market research company surveyed consumers to...Ch. 5 - Prob. 5PECh. 5 - Prob. 6PECh. 5 - Prob. 7PECh. 5 - Prob. 8PECh. 5 - Prob. 9PECh. 5 - A survey of 200 college graduates who have been...
Ch. 5 - Prob. 11PECh. 5 - A survey of shopping habits found the percentage...Ch. 5 - Prob. 13PECh. 5 - Prob. 14PECh. 5 - Use the Civilian Labor Force data in the Excel...Ch. 5 - Prob. 16PECh. 5 - A home pregnancy test is not always accurate....Ch. 5 - In the scenario in Problem 2, what is the...Ch. 5 - In the roulette example described in Problem 7,...Ch. 5 - Prob. 20PECh. 5 - Prob. 21PECh. 5 - Prob. 22PECh. 5 - Prob. 23PECh. 5 - Based on the data in the Excel file Consumer...Ch. 5 - Prob. 25PECh. 5 - The Excel file Call Center Data shows that in a...Ch. 5 - If a cell phone company conducted a telemarketing...Ch. 5 - A popular resort hotel has 300 rooms and is...Ch. 5 - A telephone call center where people place...Ch. 5 - Prob. 31PECh. 5 - Prob. 32PECh. 5 - Prob. 33PECh. 5 - Prob. 34PECh. 5 - Prob. 35PECh. 5 - In determining automobile-mileage ratings, it was...Ch. 5 - Prob. 37PECh. 5 - Prob. 38PECh. 5 - A supplier contract calls for a key dimension of a...Ch. 5 - Historical data show that customers who download...Ch. 5 - A Iightbulb is warranted to last for 5,000 hours....Ch. 5 - Prob. 42PECh. 5 - Develop a procedure to sample from the probability...Ch. 5 - Prob. 44PECh. 5 - Prob. 45PECh. 5 - Prob. 46PECh. 5 - A formula in financial analysis is:...Ch. 5 - A government agency is putting a large project out...
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- Suppose that you and a friend are playing cards and decide to make a bet. If you draw two clubs in succession from a standard deck of 52 cards without replacing the first card, you win $40. Otherwise, you pay your friend $10. If the same bet was made 25 times, how much would you expect to win or lose? Round your answer to the nearest cent, if necessary. Win: Lose:arrow_forwardA roulette wheel has the numbers 1 through 36, 0, and 00. A bet on five numbers pays 6 to 1 (that is, if you bet $1 and one of the five numbers you bet comes up, you get back your $1 plus another $6). How much do you expect to win with a $1 bet on five numbers? (Round your answer to the nearest cent.)arrow_forwardMany casinos have a game called the Big Six Money Wheel, which has 54 slots in which are displayed a Joker, the casino logo, and various dollar amounts, as shown in the table at the top of the next column. Players may bet on the Joker, the casino logo, or one or more dollar denominations. The wheel is spun and if the wheel stops on the same place as the player's bet, the player wins that amount for each dollar bet. Denomination Number of slots $40 (Joker) 1 $40 (Casino logo) 1 $20 2 $10 4 $5 7 $2 15 $1 24 If a player bets $4 on the $10 denomination, find the player's expectation. (Round your answer to two decimal places.)arrow_forward
- A roulette wheel has 38 slots, numbered 0, 00, and 1 to 36. The slots 0 and 00 are colored green, 18 of the others are red, and 18 are black. The dealer spins the wheel and, at the same time, rolls a small ball along the wheel in the opposite direction. The wheel is carefully balanced so that the ball is equally likely to land in any slot when the wheel slows. Gamblers can bet on various combinations of numbers and colors. A) What is the probability of any one of the 38 possible outcomes? Explain your answer. B) If you bet on “red,” you win if the ball lands in a red slot. What is the probability of winning? C) A friend tells you that the odds that a bet on “red” will win are 10 to 9. Is your friend correct? If not, what are the correct odds? D The slot numbers are laid out on a board on which gamblers place their bets. One column of numbers on the board contains all multiples of 3, that is, 3, 6, 9, … , 36. You place a “column bet” that wins if any of these numbers comes up. What is…arrow_forwardA roulette wheel has 38 slots, numbered 0, 00, and 1 to 36. The slots 0 and 00 are colored green, 18 of the others are red, and 18 are black. The dealer spins the wheel and, at the same time, rolls a small ball along the wheel in the opposite direction. The wheel is carefully balanced so that the ball is equally likely to land in any slot when the wheel slows. Gamblers can bet on various combinations of numbers and colors. bo(c) If you bet the same amount on each play and win on exactly 4 of the 8 plays, you will "break even." What is the probability that you will break even? Give your answer to five decimal places. O Macmillan Learning P(X = 4) =arrow_forwardA roulette wheel has 38 slots, numbered 0, 00, and 1 to 36. The slots 0 and 00 are colored green, 18 of the others are red, and 18 are black. The dealer spins the wheel and, at the same time, rolls a small ball along the wheel in the opposite direction. The wheel is carefully balanced so that the ball is equally likely to land in any slot when the wheel slows. Gamblers can bet on various combinations of numbers and colors. What is the probability of any one of the 38 possible outcomes to three decimal places? probability: M O hp 18 L f9 D) fo Bo 43°F Clear 12 num ik 6:39 PM 11/26/2022 insert 1arrow_forward
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