SOLUTION:
A roulette wheel contains 38 numbers ​(18 are​ red, 18 are​ black, and 2 are​ green). When the roulette wheel is​ spun, the ball is equally like
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A roulette wheel contains 38 numbers ​(18 are​ red, 18 are​ black, and 2 are​ green). When the roulette wheel is​ spun, the ball is equally like
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Question 1120319:
A roulette wheel contains 38 numbers (18 are red, 18 are black, and 2 are green). When the roulette wheel is spun, the ball is equally likely to land on any of the 38 numbers. Suppose that you bet $8 on red. If the ball lands on a red number, you win $8; otherwise you lose your $8. Let X be the amount you win on your $8 bet. Then X is the random variable whose probability distribution is as follows. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! probability of landing on red is 18/38 p(x)
if it does, one wins $8, x
The amount one wins is +$144/38=$3.79
The amount one loses is -$160/38 or -$4.21
The expected loss is -$0.42 for each trial.
