An American roulette wheel has 38 spaces and if a player wins they keep their bet. Suppose that a $4.00 bet on a single space wins $140.00 if the space is landed on and, otherwise, the player wins nothing. What is the expected value of this bet from the casino's standpoint
An American roulette wheel has 38 spaces and if a player wins they keep their bet. Suppose that a $4.00 bet on a single space wins $140.00 if the space is landed on and, otherwise, the player wins nothing. What is the expected value of this bet from the casino's standpoint
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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An American roulette wheel has 38 spaces and if a player wins they keep their bet. Suppose that a $4.00 bet on a single space wins $140.00 if the space is landed on and, otherwise, the player wins nothing. What is the expected value of this bet from the casino's standpoint? Round your answer to the nearest cent.
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