Saturday
April 19, 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.

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Statistics - An American style roulette wheel has individual compartments for ...
math - in a game of roulette, there are 18 red numbers, 18 black numbers, and 2 ...
Math (expected value) - A roulette wheel in Las Vegas has 18 red slots and 18 ...
statistics - The game of roulette uses a wheel containing 38 pockets. Thirty-six...
statistics - The game of roulette uses a wheel containing 38 pockets. Thirty-six...
math - On a roulette wheel are 36 slots numbered 1 through 36 and 2 slots ...
Math - In American roulette where there are 38 numbers, how many possible ...
Math - What are the odds in winning in a roulette if I bet on an exact number ...
math - Find the expected value of a $1 bet in six-spot keno if three winning ...
statistics - A gambling game pays 4 to 1 and the chance of winning is 1 in 6. ...

Search
Members