SOLUTION: Mr. Z is in a casino for the first time! He decides to play some American roulette. First, he bets $1 on red and he wins! Then, he bets $1 on red again and he wins again! Use this

Question 1020127: Mr. Z is in a casino for the first time! He decides to play some American roulette. First, he bets $1 on red and he wins! Then, he bets $1 on red again and he wins again! Use this information to answer the following questions.
If you use Minitab Express, copy + paste your output along with an explanation.
For a table of roulette betting odds see: https ://en.wikipedia.org/wiki/Roulette#Bet_odds_table.
Note that this is American roulette with 38 slots: 18 red, 18 black, and 2 green.
(20 points)
A. If Mr. Z plays a third round and bets $1 on red, what is the probability that he will win a third time?

B. If an individual plays three rounds of American roulette, what is the probability that he or she will win all three times?

C. Mr. Z�s friend, Ms. Y, joins him at the casino and she plays 3 games of roulette, betting $1 on red each time. What is the probability that she will finish with more money than she started with?

D. Assume that both Mr. Z and Ms. Y made money during their first short trip to the casino. How are casinos making money if two people can walk in and come out with more money? Apply what you have learned about probability distributions in this lesson. It is expected that about 50-75 words will be needed to fully answer this question.

Answer by Fombitz(32388) (Show Source): You can put this solution on YOUR website!
Duplicate question.
See Answer 636154
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