Relating to the game Craps Those "Hard ways" bets in the middle of the table look great! They pay up to 30 to one, meaning they will pay out $150 on just a $5 chip! Show, using probability and statistics - and the payouts - why these might not be the best bets on the table. Show at least two examples in the hard way field.

Q: In roulettem, if a player uses the doubling strategy starting with a $10 bet and is betting on red…

A: Given that, Odds are one-one

Q: In a certain year, Website A gave odds on who would win the World Series. They gave the New York…

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Q: Example 4 The probability of winning a prize in a game of chance is 0.48. What is the least number…

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Q: organization, the proportion of people who are satisfied with the way things are going in their…

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Q: Suppose you draw one card from a standard 52-card deck. What is the probability that you get a…

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Q: A carnival game has prizes and probabilities as shown in the table below. How much should the game…

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Q: Focus on the ‘Big Wheel’ problem from the Price is Right. With knowing how to calculate whether or…

A: Given the ‘Big Wheel’ problem probabilities to calculate whether or not the final contestant will…

Q: What is the overall expected outcome for this game?

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Q: A geneticist conducts an experiment with beans, one sample of offspring consisted of 458 green beans…

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Q: You get to select one card at random from a standard deck of 52 cards. If you pick a club, you win…

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Q: At a carnival, a game is played where you have the chance to win money drawing a ball from a bag.…

A:

Q: Section 6.3 11. What is the expected value of a game where you can place a bet of $ 10 and someone…

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Q: A game-show spinner has these odds of stopping on particular dollar values: 55% for $5, 20% for…

A: The odds of player wining $500 is 15% and the odds of player wining $1,000 is 10%.

Q: Find the probability that none of the dice will show a 1. (Enter your probability as a fraction.)

A: The number of dice rolled are 3.

Q: A game has an expected value to you of $900. It costs $900 to play, but if you win, you receive…

A: Given dataA game has an expected value of $900it costs $900 to playif you win you receive $100000…

Q: On average, what are the odds of left handed stick orders coming into the website? 2:1 O 13:7 O…

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Q: A game-show spinner has these odds of stopping on particular dollar values: 45% for $5, 25% for $50,…

A: The mutually exclusive events are those which can not occur simultaneously. For example getting head…

Q: Detailed below is one of the nefarious dicing practices of the Win Some/Lose Some Casino. HINT [See…

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Q: In a business why probability is used while finding a method to advertise a product?

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Q: Can u please do question 20.

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Q: A raffle costs $5 to play. You have 20% chance of winning $20, otherwise you lose.  What is the…

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Q: 32 Video Poker The following table shows the net winnings from a $1 bet in a video poker game.…

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Q: because the probabilities do not depend on When flipping coins, we say the outcomes are previous…

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Q: A group of students has a bag of candy. There are 3 Snickers bars, 2 Butterfingers, and 4 Baby…

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Q: A game has an expected value to you of $1800. It costs $1800 to play, but if you win, you receive…

A: To find: The probability of winning.

Q: Example 5 You have $5 to bet. You can bet on the number 7 in roulette and win $180 or bet on the…

A:

Q: 1. The table shows the probabilities for the number of bets that must be placed in order to win in a…

A:

Q: A game has an expected value to you of -$0.50. It costs $2 to play, but if you win, you receive $20…

A: Suppose the random variable x denotes the net amount gained from the game.

Q: Exercise 6.2 Consider an experiment with four possible outcomes, and suppose that the quoted odds…

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Q: If you charge $3 to play a game of chance and the expected value is - $2, then what is the fair…

A: According to the given information, it is required to find the fair price of the game.

Q: Denomination Number of slots $40 (Joker) 1 $40 (Casino logo) 1 $20 2 $10 4 $5 7 $2 15 $1 24 %24

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Q: What is the expectation for the $1 bets on a U.S. roulette wheel? See the figure. (Round your answer…

A: The expectation value is to be determined based on $1 bets on a U.S. roulette wheel is determined…

Q: (i) What is the mean number of cards held by a person from this group? (ii) What is the variance of…

A: Given: Y   X 0 1 2 3 4 Total 1 0.08 0.13 0.09 0.06 0.03 0.39 2 0.03 0.08 0.08 0.09 0.07…

Q: Roulette. A roulette wheel has 38 slots. One slot is 0, another is 00, and the others are numbered 1…

A: Given Data: Odds of winning: 35:1   bet amount=28

Q: Let's say the weatherwoman says the chance of rain is 60% and the chance of snow is 50%. What's the…

A: Given information A denotes Snow B denotes rain P(A) = 0.6

Q: ard roulette wheel has 38 slots numbered 00, 0, 1, 2, ... , 36. What is the expected profit for one…

A: The probability of win will be: P(win) =Number of slots having OOTotal number of slots          =138…