In American roulette, the wheel has the 38 numbers, 00, 0, 1, 2, ..., 34, 35, and 36, marked on equally spaced slots. If a player bets $4 on a number and wins, then the player keeps $4 and receives an additional $140. Otherwise, the player is awardednothing, and the casino takes the player's $4. Find the expected value E(x) to the player for one play of the game. If x is the gain to a player in a game of chance, then E(x) is usually negative. This value gives the average amount per game the player canexpect to lose.The expected value is $(Round to the nearest cent as needed.)

here given 38 number on wheel. x=net gain to player in game. probability of bet number come (win…

Answered: In American roulette, the wheel has the…

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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Similar questions

A person must pay $$5 to play a certain game at the casino. Each player has a probability of 0.14 of winning $$14, for a net gain of $$9 (the net gain is the amount won 14 minus the cost of playing 5).Each player has a probability of 0.86 of losing the game, for a net loss of $$5 (the net loss is simply the cost of playing since nothing else is lost).What is the Expected Value for the player (that is, the mean of the probabiltiy distribution)? If the Expected Value is negative, be sure to include the "-" sign with the answer. Express the answer with two decimal places.Expected Value = $ If a person plays this game a very large number of times over the years, do we expect him/her to come out financially ahead or behind? behind ahead
Neil has a collection of 8 dice, 5 of which have four sides. If Neil randomly rolls 4 dice, what is the probability that all of them have four sides? Write your answer as a decimal rounded to four decimal places.
A customer for a home insurance policy owns a $200,000 home. The probability is 0.1% that the home will be totally destroyed by fire, and the probability is 0.5% that the home will suffer a 50% loss due to fire. Ignoring all other partial losses, the insurance company is interested in determining what premium it should charge for a policy just to break even. Let ? = ?ℎ? ?????? ?? ???????????? ???? ?? ?ℎ? ????????. State the Sample Space for the r.v. X INCLUDE the units: { } (i.e. list all the possible outcomes for the amount of compensation paid to the customer in $) HINT: make a probability distribution table
Suppose you are invited to play a game in which you bet $1 on any number from 000 to 299. If your number comes up, you get $75. Find the expected winnings. Expected winnings = $ (Type an integer or decimal rounded to the nearest cent as needed.)
A person must pay $$6 to play a certain game at the casino. Each player has a probability of 0.16 of winning $$12, for a net gain of $$6 (the net gain is the amount won 12 minus the cost of playing 6).Each player has a probability of 0.84 of losing the game, for a net loss of $$6 (the net loss is simply the cost of playing since nothing else is lost).What is the Expected Value for the player (that is, the mean of the probabiltiy distribution)? If the Expected Value is negative, be sure to include the "-" sign with the answer. Express the answer with two decimal places.
You purchase a brand new car for $17,000 and insure it. The policy pays 78% of the car's value if there is an issue with the engine or 30% of the car's value if there is an issue with the speaker system. The probability of an issue with the engine is 0.009, and the probability there is an issue with the speaker system is 0.02. The premium for the policy is p. Let X be the insurance company's net gain from this policy. (a) Create a probability distribution for X, using p to represent the premium on the policy. Enter the possible values of X in ascending order from left to right. X P(X)
Charlie buys a one-year term home insurance policy for $p, that will pay $200,000 in the event of a major catastrophe and $35,000 in the event of a minor catastrophe. Charlie's home has a 0.2% chance of a major catastrophe and a 0.7% of a minor catastrophe during the one year term. What did the insurance company charge Charlie for this policy if the company expected to break even?
A game-show spinner has these odds of stopping on particular dollar values: 55% for $5, 20% for $50, 15% for $500, and 10% for $1000. What are the odds of a player winning $500 or $1000?
You purchase a brand new car for $15,000 and insure it. The policy pays 78% of the car's value if there is an issue with the engine or 30% of the car's value if there is an issue with the speaker system. The probability of an issue with the engine is 0.009, and the probability there is an issue with the speaker system is 0.02. The premium for the policy is p. Let X be the insurance company's net gain from this policy. (a) Create a probability distribution for X, using p to represent the premium on the policy. Enter the possible values of X in ascending order from left to right. P(X) (b) Compute the minimum amount the insurance company will charge for this policy. Round your answer to the nearest cent
A game-show spinner has these odds of stopping on particular dollar values: 55% for $50, 20% for $100, 15% for $500, and 10% for $1000. What are the odds of a player winning $50 or $100?
Suppose that you repeatedly roll a pair of fair dice and keep track of the sum. What is the probability that you see a sum of 7 before you see an even sum 3 times? (In particular, you keep track of how many evens you roll, and you want the probability that you roll a 7 before you get to 3 evens.
Jack has just been given a ten-question multiple choice quiz in history class. Each question has five answers, of which only one is correct. Since Jack has not attended class recently, he does not know any of the answers. Assuming Jack guesses randomly on all ten questions, find the probability that he will answer six or more of the questions correctly and avoid an F.

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