(MC)
1 answer:
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If the number you are rounding is followed by 5, 6, 7, 8, or 9, round the number up (+1).
If the number you are rounding is followed by 0, 1, 2, 3, or 4, round the number down (no change).
If the number you are rounding is followed by 0, 1, 2, 3, or 4, round the number down (no change).
The missing part in the question;
and the payoff is $2.20 won for every dollar bet. (As the player’s probability of winning in this case is ........
Also:
For such a bet, the casino pays off as shown in the following table.
The table can be shown as:
Keno Payoffs in 10 Number bets
Number of matches Dollars won for each $1 bet
0 - 4 -1
5 1
6 17
7 179
8 1299
9 2599
10 24999
Answer:
Step-by-step explanation:
Given that:
Twenty numbers are selected at random by the casino from the set of numbers 1 through 80
A player can select from 1 to 15 numbers; a win occurs if some fraction of the player’s chosen subset matches any of the 20 numbers drawn by the house
Let assume X to represent the numbers of player chooses which are in the Casino-selected-set of 20.
Let assume the random variable X has a hypergeometric distribution with parameters N= 80 and m =20.
Then, the probability mass function of a hypergeometric distribution can be defined as:
Now; the probability that i out of n numbers chosen by the player among 20 can be expressed as:
Also; given that ; When the player selects 2 numbers, a payoff (of odds) of $12 won for every $1 bet is made when both numbers are among the 20
So; n= 2; k= 2
Then :
Probability P ( Both number in the set 20)
Probability P ( Both number in the set 20)
Probability P ( Both number in the set 20)
Probability P ( Both number in the set 20)
Thus; the payoff odd for is 16.63:1 ,as such fair payoff in this case is $16.63
Again;
Let assume X to represent the numbers of player chooses which are in the Casino-selected-set of 20.
Let assume the random variable X has a hypergeometric distribution with parameters N= 80 and m =20.
The probability mass function of the hypergeometric distribution can be defined as :
Now; the probability that i out of n numbers chosen by the player among 20 can be expressed as:
From the table able ; the expected payoff can be computed as shown in the attached diagram below. Thanks.
