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sark123
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In the bet on a “single number” at roulette, there is chance 1/38 of winning. The bet pays 35 to 1; you can take this to mean that if you win the bet, your net gain is $35, and if you lose the bet then you lose $1 (that is, your net gain is $1). Suppose you bet repeatedly on a single number; assume that the bets are independent of each other. Find the expected value of your net gain from 38 bets.
 one year ago
 one year ago
sark123 Group Title
In the bet on a “single number” at roulette, there is chance 1/38 of winning. The bet pays 35 to 1; you can take this to mean that if you win the bet, your net gain is $35, and if you lose the bet then you lose $1 (that is, your net gain is $1). Suppose you bet repeatedly on a single number; assume that the bets are independent of each other. Find the expected value of your net gain from 38 bets.
 one year ago
 one year ago

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bubblemath122 Group TitleBest ResponseYou've already chosen the best response.0
Expected value = (1/38) *35 + (37/38)(1) = 1/19 which is around $0.05 now multiply that by 38 so 1/19 * 38 = 2
 one year ago

bubblemath122 Group TitleBest ResponseYou've already chosen the best response.0
you will expect a net loss of 2 dollars on 38 bets
 one year ago

sark123 Group TitleBest ResponseYou've already chosen the best response.0
thumbs up for you man !
 one year ago

pandu Group TitleBest ResponseYou've already chosen the best response.0
In the bet on a “single number” at roulette, there is chance 1/38 of winning. The bet pays 35 to 1; you can take this to mean that if you win the bet, your net gain is $35, and if you lose the bet then you lose $1 (that is, your net gain is $1). You don’t need to know any more about roulette to solve this problem, but the description given above is what would happen if you were to bet $1 on a single number at a Las Vegas roulette table. Suppose you bet repeatedly on a single number; assume that the bets are independent of each other. Find the expected value of your net gain from 38 bets
 one year ago
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