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Answer:
You are expected to lose $0.05 (or win -$0.05)
Step-by-step explanation:
Since the roulette wheel has the numbers 1 through 36, 0, and 00, there are 38 possible outcomes.
In this bet, you are allowed to pick 3 out of the 38 numbers. Thus, your chances of winning (P(W)) and losing (P(L)) are:
The expected value of the bet is given by the sum of the product of each outcome pay by its probability. Winning the bet means winning $11 while losing the bet means losing $1. The expected value is:
Therefore, with a $1 bet, you are expected to lose roughly $0.05
Answer:
Step-by-step explanation:
Insert the given x values for the given equation to find the corresponding y coordinate:
Insert -6:
Simplify multiplication (when multiplying a negative and a positive, the result will always be negative):
Simplify (when subtracting from a negative number, add the values, but keep the negative symbol):
Insert -1:
Insert 1:
:Done