
Concept explainers
5.39 Roulette. An American roulette wheel contains 38 numbers: 18 are red, 18 are black, and 2 are green. When the roulette wheel is spun, the ball is equally likely to land on any of the 38 numbers. Suppose that you bet $1 on red. If the ball lands on a red number, you win $1; otherwise you lose your $1. Let X be the amount you win on your $1 bet. Then X is a random variable whose
x | 1 | –1 |
P(X = x) | 0.474 | 0.526 |
- a. Verify that the probability distribution is correct.
- b. Find the expected value of the random variable X.
- c. On average, how much will you lose per play?
- d. Approximately how much would you expect to lose if you bet $1 on red 100 times? 1000 times?
- e. Is roulette a profitable game to play? Explain.

Want to see the full answer?
Check out a sample textbook solution
Chapter 5 Solutions
Introductory Statistics, Books a la Carte Plus NEW MyLab Statistics with Pearson eText -- Access Card Package (10th Edition)
Additional Math Textbook Solutions
Pathways To Math Literacy (looseleaf)
Introductory Statistics
A Problem Solving Approach To Mathematics For Elementary School Teachers (13th Edition)
Beginning and Intermediate Algebra
Elementary Algebra For College Students (10th Edition)
APPLIED STAT.IN BUS.+ECONOMICS
- A company found that the daily sales revenue of its flagship product follows a normal distribution with a mean of $4500 and a standard deviation of $450. The company defines a "high-sales day" that is, any day with sales exceeding $4800. please provide a step by step on how to get the answers in excel Q: What percentage of days can the company expect to have "high-sales days" or sales greater than $4800? Q: What is the sales revenue threshold for the bottom 10% of days? (please note that 10% refers to the probability/area under bell curve towards the lower tail of bell curve) Provide answers in the yellow cellsarrow_forwardFind the critical value for a left-tailed test using the F distribution with a 0.025, degrees of freedom in the numerator=12, and degrees of freedom in the denominator = 50. A portion of the table of critical values of the F-distribution is provided. Click the icon to view the partial table of critical values of the F-distribution. What is the critical value? (Round to two decimal places as needed.)arrow_forwardA retail store manager claims that the average daily sales of the store are $1,500. You aim to test whether the actual average daily sales differ significantly from this claimed value. You can provide your answer by inserting a text box and the answer must include: Null hypothesis, Alternative hypothesis, Show answer (output table/summary table), and Conclusion based on the P value. Showing the calculation is a must. If calculation is missing,so please provide a step by step on the answers Numerical answers in the yellow cellsarrow_forward
- Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL

