A community for students.
Here's the question you clicked on:
 0 viewing
anonymous
 3 years ago
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.
anonymous
 3 years ago
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.

This Question is Closed

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.0Expected value = (1/38) *35 + (37/38)(1) = 1/19 which is around $0.05 now multiply that by 38 so 1/19 * 38 = 2

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.0you will expect a net loss of 2 dollars on 38 bets

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.0thumbs up for you man !

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.0In 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
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.