Homework Help is Here – Start Your Trial Now!
Math
Probability
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 outoome is an even number, the payoff odds are 1:1. How much profit do you make if you bet $18 and win?

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 outoome is an even number, the payoff odds are 1:1. How much profit do you make if you bet $18 and win?

College Algebra
College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 43E
See similar textbooks
icon
Related questions
Question
A1 a modified roulette table has 32 slots.
A modified roulette wheel has 32 slots. One slot is 0, another is 00, and the others are numbered 1 through 30, 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 areHO c. When you bet that the outcome is an even number, the payoff odds are 1:1. How much profit do you make if you bet $18 and win? If you win, the payoff is S d. How much profit should you make on the $18 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? S (Round to the nearest cent as needed.)
Transcribed Image Text:A modified roulette wheel has 32 slots. One slot is 0, another is 00, and the others are numbered 1 through 30, 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 areHO c. When you bet that the outcome is an even number, the payoff odds are 1:1. How much profit do you make if you bet $18 and win? If you win, the payoff is S d. How much profit should you make on the $18 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? S (Round to the nearest cent as needed.)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS