Roulette In American roulette, a bettor may place a $1 bet on any one of the 38 numbers on the roulette wheel. They win $35 (plus the return of their bet) if the ball lands on their number; otherwise, they lose their bet. Write down the probability distribution for the earnings from this type of bet, and find the expected value.
Roulette In American roulette, a bettor may place a $1 bet on any one of the 38 numbers on the roulette wheel. They win $35 (plus the return of their bet) if the ball lands on their number; otherwise, they lose their bet. Write down the probability distribution for the earnings from this type of bet, and find the expected value.
Solution Summary: The author calculates the probability distribution for the earnings of betting in American roulette and the expected value.
Roulette In American roulette, a bettor may place a $1 bet on any one of the 38 numbers on the roulette wheel. They win $35 (plus the return of their bet) if the ball lands on their number; otherwise, they lose their bet. Write down the probability distribution for the earnings from this type of bet, and find the expected value.
Using and Understanding Mathematics: A Quantitative Reasoning Approach (6th Edition)
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