document.write( "Question 249423: If casino Keno were fair, how much should it pay to a player who bets $10 to bet 6 numbers and matches 5 numbers? The odds against matching 5 numbers when you bet 6 numbers in casino Keno are about 322 to 1.
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Algebra.Com's Answer #181668 by stanbon(75887)![]() ![]() ![]() You can put this solution on YOUR website! If casino Keno were fair, how much should it pay to a player who bets $10 to bet 6 numbers and matches 5 numbers? \n" ); document.write( "The odds against matching 5 numbers when you bet 6 numbers in casino Keno are about 322 to 1. \n" ); document.write( "---- \n" ); document.write( "P(for) = 1/323 \n" ); document.write( "P(against) = 322/323 \n" ); document.write( "----------------------- \n" ); document.write( "Random Number values: -10, x-10 \n" ); document.write( "--- \n" ); document.write( "For a fair game, expected value is zero. \n" ); document.write( "------ \n" ); document.write( "Let \"x\" be the payoff. \n" ); document.write( "-10(322/323) + (x-10)(1/323) = 0 \n" ); document.write( "Multiply thru by 323 to get: \n" ); document.write( "-3230 + x-10 = 0 \n" ); document.write( "x = $3240 \n" ); document.write( "================== \n" ); document.write( "Cheers, \n" ); document.write( "Stan H. \n" ); document.write( " \n" ); document.write( " |