Miranda S.

asked • 04/26/15

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On an American roulette wheel, there are 18 red numbers, 18 black numbers, plus 2 green numbers (0 and 00). If you bet $N on red, you win $N if a red number comes up (i.e., you get $N back - your original bet plus you $N profit.); if a black or green number comes up, you lose you $N bet. Find the expected payoff of a $1 bet on red. 
 
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