KIn roulette, the numbers from 1 to 36 are evenly distributed between red and black. A player who bets $1 on blackwins $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 $1bet is lost. One option in a roulette game is to bet $16 on red. If the ball lands on red, you get to keep the $16 you paidto play the game, and you are awarded $17. If the ball lands elsewhere, you are awarded nothing, and the $16 that youbet is collected. What is the expected value of the game?The expected value for playing roulette if you bet $16 on red is approximately $

We have to find the expected value for playing roulette To find this the procedure is given below

Answered: K 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

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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).
A game has a 10 dollar buy in. You have 20% to win nothing, 20% to win 5 dollars, 30% to break even, and 30% to win 20 dollars. What is the games EV? 画

Suppose you play a game with a biased coin. You play each game by tossing the coin once. and . If you toss a head, you pay $10. If you toss a tail, you win $11. if you play this game many times, will you come out ahead? (i.e. will you gain extra money from playing this game?) (Be sure to use fractions in the table.)
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
Diana 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: Diana 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 $8.75 if the spinner stops on 5 or 6. (If necessary, consult a list of formulas.) (a) Find the expected value of playing the game. O pesos (b) What can Diana expect in the long run, after playing the game many times? O Diana can expect to gain money. She can expect to win pesos per spin. O Diana can expect to lose money. She can expect to lose pesos per spin. O Diana can expect to break even (neither gain nor lose money).
A casino game with cards takes $1 bets. Gamblers have a 46% chance to win back their bets plus $1, and they have a 54% chance of losing their bets. Can you evaluate the house edge for thisgame, if so please explain.
A certain game involves tossing 3 fair coins, and it pays 13¢ for 3 heads, 6¢ for 2 heads, and 2¢ for 1 head. Is 6¢ a fair price to pay to play this game? That is, does the 6¢ cost to play make the game fair? The 6¢ cost to play is not a fair price to pay because the expected winnings are (Type an integer or a fraction. Simplify your answer.) c.

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