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Joan believes the best way to play roulette is to place a bet on a 6 block of numbers as the probability of winning is. Joan decides to place a $20 bet with this probability. Joan will win $100 (and keep the bet!) if one of the numbers comes up but will lose if any other number is shown, with a probability of 33. What is the expected value for Joan? Round to the nearest cent. Do not round until your final calculation.

Joan believes the best way to play roulette is to place a bet on a 6 block of numbers as the probability of winning is. Joan decides to place a $20 bet with this probability. Joan will win $100 (and keep the bet!) if one of the numbers comes up but will lose if any other number is shown, with a probability of 33. What is the expected value for Joan? Round to the nearest cent. Do not round until your final calculation.

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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Joan believes the best way to play roulette is to place a bet on a 6 block of numbers as the probability of winning is. Joan decides to place a $20 bet with this probability. Joan will win $100 (and keep the bet!) if one of the numbers comes up but will lose if any other number is shown, with a probability of 33. What is the expected value for Joan? Round to the nearest cent. Do not round until your final calculation.
Transcribed Image Text:Joan believes the best way to play roulette is to place a bet on a 6 block of numbers as the probability of winning is. Joan decides to place a $20 bet with this probability. Joan will win $100 (and keep the bet!) if one of the numbers comes up but will lose if any other number is shown, with a probability of 33. What is the expected value for Joan? Round to the nearest cent. Do not round until your final calculation.
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