In roulette, the numbers from 1 to 36 are evenly distributed between red and black. A player who bets $1 on black wins $1 (and gets the $1 bet back) if the ball comes to rest on black; otherwise (if the ball lands on red, 0, or 00), the $1 bet is lost. One option in a roulette game isto bet $19 on red. If the ball lands on red, you get to keep the $19 you paid to play the game, and you are awarded $21. If the ball lands elsewhere, you are awarded nothing, and the $19 that you bet is collected. What is the expected value of the game?The expected value for playing roulette if you bet $19 on red is approximately $(Round to the nearest cent as needed.)

In roulette, the numbers from 1 to 36 are evenly distributed between red and black. A player who…

Answered: In roulette, the numbers from 1 to 36…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Similar questions

Suppose that you and a friend are playing cards and decide to make a bet. If your friend draws two red cards in succession from a standard deck of 52 cards without replacing the first card, you give him $50. Otherwise, he pays you $20. If the same bet was made 15 times, how much would you expect to win or lose? Round your answer to the nearest cent, if necessary. Answer O Win ⒸLose Keypad Keyboard Shortcuts
Lisa is playing a game in which she spins a spinner with 6 equal-sized slices numbered 1 through 6. The spinner stops on a numbered slice at random. This game is this: Lisa spins the spinner once. She wins $1 if the spinner stops on the number 1, $4 if the spinner stops on the number 2, $7 if the spinner stops on the number 3, and $10 if the spinner stops on the number 4. She loses $11 if the spinner stops on 5 or 6. (a) Find the expected value of playing the game. | dollars (b) What can Lisa expect in the long run, after playing the game many times? O Lisa can expect to gain money. She can expect to win dollars per spin. O Lisa can expect to lose money. She can expect to lose dollars per spin. O Lisa can expect to break even (neither gain nor lose money).
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?
the carnival has come to town, and lucky louie has once again set up his pavilion. He offers a simple game consisting of rolling two normal six-sided dice at the same time for the extraordinarily low price of $3.00 per play. If the player rolls a sum of 3, the player wins $13.00; if the sum is a 9, the player wins $9.00; and if the sum is a 12, the player wins $12.00. Otherwise, the player does not win anything. How much should you expect to win or lose per game (after paying the $3.00) ?
Español Kaitlin is playing a game in which she spins a spinner with 6 equal-sized slices numbered 1 through 6. The spinner stops on a numbered slice at random. This game is this: Kaitlin spins the spinner once. She wins $1 if the spinner stops on the number 1, $3 if the spinner stops on the number 2, $5 if the spinner stops on the number 3, and $7 if the spinner stops on the number 4. She loses $6.50 if the spinner stops on 5 or 6. (If necessary, consult a list of formulas.) 00 (a) Find the expected value of playing the game. | dollars (b) What can Kaitlin expect in the long run, after playing the game many times? O Kaitlin can expect to gain money. She can expect to win dollars per spin. O Kaitlin can expect to lose money. She can expect to lose dollars per spin. O Kaitlin can expect to break even (neither gain nor lose money). Save For Later Submit Assignment Check 2022 McGraw HilL LLC. AlLRiahts Reserved. Terms of Use Privacy Center Accessibility étv 8 MacBook Air DII F9 F10 F11 F7…
If I $6 to play a spinner game and the chances of winning $1 dollar is 50% and the chances of winning $12 is 50%. What is the fair price of the game?
After years of low attendance, the Washington Nationals move back to Montreal and once again are the Montreal Expos. If the probability of the Montreal Expos winning the World Series is 1/26, What are the odds of the Expos winning the World Series? : Enter the following answer as a fraction. What is the probability of the Expos not winning? What are the odds of another team other than the Expos winning the World Series? :
After the quarter finals of the Rugby World cup, when offering you to bet on the winner, a friend of yours states that the odds for South Africa, new Zealand, England, Argentina, to be crowned World Champion are respectively: 5-6,5-4, 12-1, 40-1. Given these odds, who can take advantage of the other? a. You b. No one O c. Your friend
Suppose that you and a friend are playing cards and decide to make a bet. If your friend draws three twos in succession from a standard deck of 52 cards without replacement, you give him $100. Otherwise, he pays you $10. If the same bet was made 25 times, how much would you expect to win or lose? Round your answer to the nearest cent, if necessary. Answer Кeypad Keyboard Shortcuts O Win O Lose %24
27.

Recommended textbooks for you

Advanced Engineering Mathematics

Advanced Math

ISBN:

9780470458365

Author:

Erwin Kreyszig

Publisher:

Wiley, John & Sons, Incorporated

Numerical Methods for Engineers

Advanced Math

ISBN:

9780073397924

Author:

Steven C. Chapra Dr., Raymond P. Canale

Publisher:

McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…

Advanced Math

ISBN:

9781118141809

Author:

Nathan Klingbeil

Publisher:

WILEY

Advanced Engineering Mathematics

Advanced Math

ISBN:

9780470458365

Author:

Erwin Kreyszig

Publisher:

Wiley, John & Sons, Incorporated

Numerical Methods for Engineers

Advanced Math

ISBN:

9780073397924

Author:

Steven C. Chapra Dr., Raymond P. Canale

Publisher:

McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…

Advanced Math

ISBN:

9781118141809

Author:

Nathan Klingbeil

Publisher:

WILEY

Mathematics For Machine Technology

Advanced Math

ISBN:

9781337798310

Author:

Peterson, John.

Publisher:

Cengage Learning,

Basic Technical Mathematics

Advanced Math

ISBN:

9780134437705

Author:

Washington

Publisher:

PEARSON

Topology

Advanced Math

ISBN:

9780134689517

Author:

Munkres, James R.

Publisher:

Pearson,

SEE MORE TEXTBOOKS