When playing roulette at a casino, a gambler is trying to decide whether to bet $5 on the number 38 or to bet $5 that the outcome is any one of the five possibilities 00, 0, 1, 2, or 3. The gambler knows that the expected value of the $5 bet for a single number is - 0.26¢. For the $5 bet that the outcome is 00, 0, 1, 2, or 3, there is a 5 of making a net profit of $30 and a ag probability of losing $5. 33 probability of 38 a. Find the expected value for the $5 bet that the outcome is 00, 0, 1, 2, or 3. b. Which bet is better: a $5 bet on the number 38 or a $5 bet that the outcome is any one of the numbers 00, 0, 1, 2, or 3? Why? a. The expected value is $ (Round to the nearest cent alneeded.)

Q: A game-show spinner has these odds of stopping on particular dollar values: 55% for $5, 20% for $50,…

A: Given data in the problem is $5-->55%$50-->20%$100-->15% $1000-->10%

Q: whenever Suzan sees a bag of marbles, she grabs a handful at random. she has seen a bag containing…

A: There are total marbles n= 3 red+4green+3 white+2 purple = 12 marbles. Then Probability of selecting…

Q: You are dealt one card from a​ 52-card deck. Find the probability that you are dealt a heart or a…

A:

Q: A person must pay $$8 to play a certain game at the casino. Each player has a probability of 0.06 of…

A: From the provided information, A person pay $8 to play a certain game at the casino. Each player has…

Q: You are dealt one card from a standard 52-card deck. Find the probability of being dealt the jack of…

A: Probability of an event = number of favorable outcomes of an event / number of total out comes

Q: Casey is going to wear a gray sportcoat and is trying to decide what tie he should wear to work. In…

A:

Q: You choose to tell your fortune by choosing two cards from a conventional 52-card deck. What are the…

A: Obtain the probability of drawing two cards from the same suite in a row. The probability of drawing…

Q: Suppose that you have 9 coins: 3 dimes, 4 quarters, and 2 nickels. Two coins are selected at random.…

A:

Q: 1. A royal flush is the most powerful poker hand. It consists of the five highest cards in a single…

A: Given: Pick 5 cards at random from a deck of cards containing 52 cards. To Find: Probability of…

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: You are dealt one card from a standard​ 52-card deck. Find the probability of being dealt a face…

A: It is given that dealt one card from a standard​ 52-card deck.

Q: A game show contestant must randomly select a door.One door doubles her money while the other three…

A: The number of doors doubles her money is 1.

Q: Hadey is running a game of chance to raise money for a trip to Jamaica to visit his grandparents. A…

A: Introduction: Denote p1, p2, p3, p4, p5, and p6 as the respective true proportions of obtaining the…

Q: You are bidding for an antique trombone in a sealed bid auction. All of your bids must be in…

A: The objective is to determine the number that represents the difference between the amount of…

Q: Consider a gambler who at each gamble is equally likely to either win or lose $1. Suppo that the…

A: From the given information, Each gamble is equally likely to either win or lose $1. P(1)=P(-1)=1/2…

Q: A bag contains 9 blue marbles, 10 red marbles, 4 white marbles. If one marble is drawn from the bag…

A: Given Information: A bag contains 9 blue marbles, 10 red marbles, 4 white marbles. Total number of…

Q: Whenever Suzan sees a bag of marbles, she grabs a handful at random. She has seen a bag containing…

A:

Q: An urn contains five $10 each, three of $30 each and two $50 each. If three tokens are drawn…

A: It is given that an urn contains five $10 each, three of $30 each and two $50 each.

Q: In the game between two cards are dealt what is the probability of winning if a 5 and jack are dealt

A:

Q: The odds, in simplified form, in favof of the event of the card being a queen or an ace are

A: The card of the event ifs being a queen or ace.

Q: Suppose that you and a friend are playing cards and decide to make a bet. If you draw two face…

A:

Q: In a Roulette game, a ball falls onto a spinning wheel and randomly ends up in one of 37 pockets.…

A: Given the experiment of the Roulette game, a ball falls onto a spinning wheel and randomly ends up…

Q: Sarha, David, and Ali are all friends in science class. The teacher randomly chooses two of the 12…

A: There are total 12 students. The teacher is selecting 2 students. So the total number of ways to do…

Q: Leroy has one quarter, one dime, one nickel, and one penny. Two of the coins are in his left pocket…

A: Probability:The formula for probability of an event is given as follows:

Q: You are dealt one card from a standard​ 52-card deck. Find the probability of being dealt a four.

A:

Q: It costs $6.75 to play a very simple game, in which a dealer gives you one card from a deck of 52…

A: The cost of the game is $6.75.

Q: Whenever Suzan sees a bag of marbles, she grabs a handful at random. She has seen a bag containing…

A:

Q: You are dealt one card from a standard 52-card deck. playing cards Find the probability of being…

A: From the provided information, Number of cards in a standard deck = 52 There are four suits (each…

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.