1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lyudmila [28]
3 years ago
13

When playing roulette at the Venetian casino in Las Vegas, a gambler is trying to decide whether to bet $5 on the number 27 or t

o bet $5 that the outcome is any one of these five possibilities: 0, 00, 1, 2, 3. From Example 6, we know that the expected value of the $5 bet for a single number is -26. For the $5 bet that the outcome is 0, 00, 1, 2, or 3, there is a probability of 5>38 of making a net profit of $30 and a 33>38 probability of losing $5.
a. Find the expected value for the ​$5 bet that the outcome is 00, 0, or 1.
b. Which bet is​ better: a $5 bet on the number 25 or a $5 bet hat the outcome is any one of the numbers 00, 0, or 1? Why?
Mathematics
1 answer:
cricket20 [7]3 years ago
6 0

Answer:

Step-by-step explanation:

Given that:

To bet $5 that the outcome is any one of these five possibilities: 0, 00, 1, 2, 3.

Let Y represent the Amount of net profit

Then, Y= {-5, 30}

The probability distribution of Y is:

Y                        -5                        30

P(Y=y)                \dfrac{33}{38}                        \dfrac{5}{38}

a)  The expected value of X is given by:

E[Y] =\sum y P(Y=y)= 30*\dfrac{5}{38}-5*\dfrac{33}{38}

=-0.39

= -39 \ cents

b)

On a bet of $5 on the number 25 we are expected to loose 24 cents.

While on a $5 bet that the outcome is any one of the numbers 0,00, or 1 we are expected to loose 39 cents.

Hence,  $5 bet on the number 27 is better. Because the expected loss is less in this bet

You might be interested in
What is the cross-sectional area of a wire if its outside diameter is 0.0625 inch?
Leno4ka [110]

Given that the diameter: d= 0.0625 inch.

So, radius of the wire : r = \frac{0.0625}{2} = 0.03125 inch

Now the formula to find the cross-sectional area of wire ( circle) is:

A = πr²

= 3.14 * (0.03125)² Since, π = 3.14 and r = 0.03125

=3.14 * 0.000976563

= 0.003066406

= 0.00307 (Rounded to 5 decimal places).

Hence, cross-sectional area of a wire is 0.00307 square inches.

Hope this helps you!

5 0
3 years ago
Read 2 more answers
Is it proportional or nonproportional
azamat

4 is the proportion because 8 + 4 is 12 then keep adding 12 + 4 = 16 + 4 = 20 So that mean it is proportional I hope that helps.

6 0
2 years ago
Three apples weigh about a pound about how much would one apple cost round to the nearest tenth
7nadin3 [17]
3 apples weigh 1 lb.....so 1 apple would weigh 1/3 = 0.3 lbs
5 0
3 years ago
Can you help me with this math problem​
Marat540 [252]

Answer:

It might be 70 because 5m has the volume of 50 m so maybe 7m in volume is 70?

3 0
3 years ago
Helearning.com/lesson_player/?#lessons/595/activities/3033/items/551
Lady_Fox [76]

5,7

it aint even that hard bro

4 0
1 year ago
Other questions:
  • How do I find the length of the sides of a right triangle?
    15·2 answers
  • 7.984 ÷ by 1.99 =  what  ???? <br><br><br><br> help plz me
    15·1 answer
  • Helppppppppppppppppppppppppppp
    5·2 answers
  • What is 2 3/10 as a decimal
    14·2 answers
  • 5 / 3 x + 1 / 3x equals 13 + 1 / 3 x + 8 / 3 x
    6·2 answers
  • How do I solve this math problem
    5·1 answer
  • Simplify !!<br> answer choices:<br> 4^5/6<br> 4^3/2<br> 4^1/6<br> 4^1/3
    14·1 answer
  • 12x-12y it's distributive property I don't get it
    12·2 answers
  • Solve for n.<br><br> n - 26 = -13
    10·1 answer
  • Jennifer is taking a 5 question true or false test. If she guesses each time, what is the probability that she will get them all
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!