MATH FOR LIBERAL ARTS
posted by CARMEN .
Determine a casino's expected net income from a 24hour 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 singlenumber bets, $4,000 on twonumber bets, $4,000 on fournumber bets, $3,000 on sixnumber bets, $7,000 on lownumber bets, and $8,000 on rednumber bets. (Assume the expected value of each of these $1 bets in roulette is $0.053.)
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