Saturday
August 2, 2014

Homework Help: Statistics

Posted by Din123 on Wednesday, May 8, 2013 at 5:17pm.

In roulette, the bet on a “split” pays 17 to 1 and there are 2 chances in 38 to win. The bet on “red” pays 1 to 1 and there are 18 chances in 38 to win. Compare the following two strategies:

A: bet $1 200 times (independently) on a split

B: bet $1 200 times independently on red

In what follows, “making more than $x” means having a net gain of more than $x; “losing more than $x” means having a net gain of less than -$x.
Pick all that are correct.

1-The chance of coming out ahead is greater with strategy A than with strategy B.
2-The chance of making more than $20 is greater with strategy A than with strategy B.
3-The chance of losing more than $20 is greater with strategy A than with strategy B.

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