. In the USA, roulette wheels have 38 slots. They are the numbers 1 through 36, 0, and 00. Half of the numbers 1 through 36 are red, and the other half are black, so there are 18 red numbers and 18 black numbers. The numbers 0 and 00 are green. If you bet $5 on red, you win $5 if the ball lands on a red number. Otherwise you lose your $5. In class we found your expected value from this bet was $-.26. However, if you play in Atlantic City, they give you a break when betting on a single color like red and if the ball lands on 0 or 00 you only lose half your bet, or $2.50. If the ball lands on black you still lose your whole bet of $5.00. Find the expected value of betting $5 on red in Atlantic City.
. In the USA, roulette wheels have 38 slots. They are the numbers 1 through 36, 0, and 00. Half of the numbers 1 through 36 are red, and the other half are black, so there are 18 red numbers and 18 black numbers. The numbers 0 and 00 are green. If you bet $5 on red, you win $5 if the ball lands on a red number. Otherwise you lose your $5. In class we found your expected value from this bet was $-.26. However, if you play in Atlantic City, they give you a break when betting on a single color like red and if the ball lands on 0 or 00 you only lose half your bet, or $2.50. If the ball lands on black you still lose your whole bet of $5.00. Find the expected value of betting $5 on red in Atlantic City.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:2. In the USA, roulette wheels have 38 slots. They are the numbers 1 through 36, 0, and 00. Half of the
numbers 1 through 36 are red, and the other half are black, so there are 18 red numbers and 18 black
numbers. The numbers 0 and 00 are green. If you bet $5 on red, you win $5 if the ball lands on a red
number. Otherwise you lose your $5. In class we found your expected value from this bet was $-.26.
However, if you play in Atlantic City, they give you a break when betting on a single color like red and if
the ball lands on 0 or 00 you only lose half your bet, or $2.50. If the ball lands on black you still lose your
whole bet of $5.00. Find the expected value of betting $5 on red in Atlantic City.
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