Andre W. answered • 11/16/13

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B.) The mean of your net gain for one bet is (1/38)($35) + (37/38)(-$1) = -$ (2/38) = -$ (1/19).

Jason L.

asked • 11/16/13A Nevada roulette wheel had 38 pockets, labeled as 0 00 1 2 3 ... 35 36. One bet is single number. If you bet $1 on a number (any one between 1 and 36) and the number comes up, you get the dollar back together with $35 in winnings; otherwise, you lose your dollar.

A.) Find the probability model of your net gain.

B.) Find the mean of your net gain for one bet.

A.) Find the probability model of your net gain.

B.) Find the mean of your net gain for one bet.

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Andre W. answered • 11/16/13

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B.) The mean of your net gain for one bet is (1/38)($35) + (37/38)(-$1) = -$ (2/38) = -$ (1/19).

There are only two outcomes for a bet: a Win (W) or a loss (L).

The probability of a W is 1/38, the probability of a L is 37/38. The average payout for a bet is therefore

(1/38) (35 +1) + (37/38) 0 = 36/38 = 18/19 = .9474 ($.95 for a $1 bet)

The gain is actually a loss of $0.05 per $1 bet.

Parviz F. answered • 11/16/13

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a) P(w) = 1/38

b) E(x) = np= n / 38 n is the number of bits.

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