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July 5, 2015

Homework Help: MATH FOR LIBERAL ARTS

Posted by CARMEN on Monday, June 21, 2010 at 8:23pm.

Determine a casino's expected net income from a 24-hour period at a single roulette table if the casino's total overhead for the table is $50 per hour and if customers place a total of $7,000 on single-number bets, $4,000 on two-number bets, $4,000 on four-number bets, $3,000 on six-number bets, $7,000 on low-number bets, and $8,000 on red-number bets. (Assume the expected value of each of these $1 bets in roulette is -$0.053.)

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