One option in a roulette game is to bet $ 16 on red. (There are 18 red compartments, 18 black compartments, and two compartments that are neither red nor black.) If the ball lands on red, you get to keep the $ 16 you paid to play the game and you are awarded $ 16. If the ball lands elsewhere, you are awarded nothing and the $ 16 that you bet is collected. Find the expected payback for this roulette game if you bet $16on red.
One option in a roulette game is to bet $ 16 on red. (There are 18 red compartments, 18 black compartments, and two compartments that are neither red nor black.) If the ball lands on red, you get to keep the $ 16 you paid to play the game and you are awarded $ 16. If the ball lands elsewhere, you are awarded nothing and the $ 16 that you bet is collected. Find the expected payback for this roulette game if you bet $16on red.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
One option in a roulette game is to bet $ 16 on red. (There are 18 red compartments, 18 black compartments, and two compartments that are neither red nor black.) If the ball lands on red, you get to keep the $ 16 you paid to play the game and you are awarded $ 16. If the ball lands elsewhere, you are awarded nothing and the $ 16 that you bet is collected. Find the expected payback for this roulette game if you bet $16on red.
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