. What is your probability of winning? The probability of winning is Type an integer or a simplified fraction.) p. What are the actual odds against winning? The actual odds against winning are c. When you bet that the outcome is an even number, the payoff odds are 1:1. How much profit do nake if you bet $20 and win? you f you win, the payoff is $

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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Chapter1: Starting With Matlab
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12.

A modified roulette wheel has 36 slots. One slot is 0, another is 00, and the others are numbered 1
through 34, respectively. You are placing a bet that the outcome is an even number. (In roulette, 0 and 00
are neither odd nor even.)
a. What is your probability of winning?
The probability of winning is:
(Type an integer or a simplified fraction.)
b. What are the actual odds against winning?
The actual odds against winning are
c. When you bet that the outcome is an even number, the payoff odds are 1:1. How much profit do
make if you bet $20 and win?
you
If you win, the payoff is $
d. How much profit should you make on the $20 bet if you could somehow convince the casino to change
its payoff odds so that they are the same as the actual odds against winning?
(Round to the nearest cent as needed.)
Transcribed Image Text:A modified roulette wheel has 36 slots. One slot is 0, another is 00, and the others are numbered 1 through 34, respectively. You are placing a bet that the outcome is an even number. (In roulette, 0 and 00 are neither odd nor even.) a. What is your probability of winning? The probability of winning is: (Type an integer or a simplified fraction.) b. What are the actual odds against winning? The actual odds against winning are c. When you bet that the outcome is an even number, the payoff odds are 1:1. How much profit do make if you bet $20 and win? you If you win, the payoff is $ d. How much profit should you make on the $20 bet if you could somehow convince the casino to change its payoff odds so that they are the same as the actual odds against winning? (Round to the nearest cent as needed.)
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