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35 3 of making a net profit of $45 and a 38 probability of losing $15. 38 there is a probability of - a. Find the expected value for the $15 bet that the outcome is 00, 0, or 1. b Which bet is better: a$15 bet on the numbor 31 or a $15 bot that th e outco me is any one of the pumbers 0 0or 12 Why2

35 3 of making a net profit of $45 and a 38 probability of losing $15. 38 there is a probability of - a. Find the expected value for the $15 bet that the outcome is 00, 0, or 1. b Which bet is better: a$15 bet on the numbor 31 or a $15 bot that th e outco me is any one of the pumbers 0 0or 12 Why2

MATLAB: An Introduction with Applications
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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When playing roulette at a casino, a gambler is trying to decide whether to bet $15 on the number 31 or to bet $15 that the outcome is any one of the three possibilities 00, 0, or 1. The gambler knows that the expected value of the $15 bet for a single number is - $1.58. For the $15 bet that the outcome is 00, 0, or 1, 35 3 of making a net profit of $45 and a 38 probability of losing $15. 38 there is a probability of - a. Find the expected value for the $15 bet that the outcome is 00, 0, or 1. b. Which bet is better: a $15 bet on the number 31 or a $15 bet that the outcome is any one of the numbers 00, 0, or 1? Why? a. The expected value is $ (Round to the nearest cent as needed.)
Transcribed Image Text:When playing roulette at a casino, a gambler is trying to decide whether to bet $15 on the number 31 or to bet $15 that the outcome is any one of the three possibilities 00, 0, or 1. The gambler knows that the expected value of the $15 bet for a single number is - $1.58. For the $15 bet that the outcome is 00, 0, or 1, 35 3 of making a net profit of $45 and a 38 probability of losing $15. 38 there is a probability of - a. Find the expected value for the $15 bet that the outcome is 00, 0, or 1. b. Which bet is better: a $15 bet on the number 31 or a $15 bet that the outcome is any one of the numbers 00, 0, or 1? Why? a. The expected value is $ (Round to the nearest cent as needed.)
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