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In the game of roulette,a player can place a $ 5 bet on the number 17 and have 1/38 probability of winning.if the metal ball lands on 17,the player wins $ 175,otherwise the casino takes the player’s $ 5.what is the expected value of the game to the player?if you played the game 1,000 times,how much...

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1.A dealer in the Sands Casino in Las Vegas selects 40 cards from a standard deck of 52 cards. Let Y be the number of red cards (hearts or diamonds) in the 40 cards selected. Which of the following best describes this setting: (a)Y has a binomial distribution with n = 40 observations and probability...

Roulette: Consider making a $1 bet on a single number. There are 38 numbers on the wheel, so the probability of winning a bet placed on a single number is 1/38. If your number comes up, you make a profit of $35. If your number does not come up, you lose the $1 you bet. Spins of the wheel are independent. (c)...

Problem 1 A casino game costs $5 to play. If you win you get $25. The probability of winning is 0.23. What is the expected value of this game (how much would you expect to win or lose on average)? Is this a fair game? Ans- win $.75 per game; not a fair game Problem 2 A student is taking a multiple-choice...

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Hey, check out these auctions: Cool, arent they?

Please help me with this question. in the game of roulette, a player can place a $6 bet on the number 18 and have a 1/38 probability of winning. If the metal ball lands on 18, the player wins $210. Otherwise, the casino takes the players $6. What is the expected value of the game to the player? If you...

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