2. In the USA, roulette wheels have 38 slots. They are the numbers 1 through 36, 0, and 00. Half of thenumbers 1 through 36 are red, and the other half are black, so there are 18 red numbers and 18 blacknumbers. The numbers 0 and 00 are green. If you bet $5 on red, you win $5 if the ball lands on a rednumber. 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 ifthe ball lands on 0 or 00 you only lose half your bet, or $2.50. If the ball lands on black you still lose yourwhole bet of $5.00. Find the expected value of betting $5 on red in Atlantic City.

In the world of casino gaming, roulette has long been a symbol of luck and unpredictability. In the…

Answered: . In the USA, roulette wheels have 38…

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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The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $9 each and will sell 600 tickets. There is one $1,000 grand prize, three $400 second prizes, and eleven $40 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10 each and will sell 500 tickets. There is one $2,000 grand prize, three $400 second prizes, and fifteen $30 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.
The student council is hosting a drawing to raise money for scholarships. They are selling tickets for $10 each and will sell 700 tickets. There is one $3,000 grand prize, three $300 second prizes, and twelve $10 third prizes. You just bought a ticket. Find the expected value for your profit. Round to the nearest cent.

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