subject
Business, 25.03.2020 18:43 xavier1283

When playing roulette at a casino, a gambler is trying to decide whether to bet $15 on the number 11 or to bet $15 that the outcome is any one of the five possibilities 00 comma 0 comma 1 comma 2 comma or 3. The gambler knows that the expected value of the $15 bet for a single number is negative $ 1.58. For the $15 bet that the outcome is 00 comma 0 comma 1 comma 2 comma or 3, there is a probability of StartFraction 5 Over 38 EndFraction of making a net profit of $90 and a StartFraction 33 Over 38 EndFraction probability of losing $15. a. Find the expected value for the $15 bet that the outcome is 00 comma 0 comma 1 comma 2 comma or 3. b. Which bet is better: a $15 bet on the number 11 or a $15 bet that the outcome is any one of the numbers 00 comma 0 comma 1 comma 2 comma or 3? Why?

ansver
Answers: 3

Another question on Business

question
Business, 21.06.2019 19:00
What does the consumer price index measure? a. the change in prices of all goods and services over time b. the change in prices of specific goods and services over time c. the change in prices of final goods and services over time
Answers: 1
question
Business, 21.06.2019 21:00
Captain john's yachts, inc., located in fort lauderdale, florida, rents three types of ocean-going boats: sailboats, cabin cruisers, and captain john's favorite, the luxury yachts. captain john advertises his boats with his famous "you rent"we pilot" slogan, which means that the company supplies the captain and crew for each rented boat. each rented boat has one captain, of course, but the crew sizes (deck hands, galley hands, etc.) differ. the crew requirements, in addition to a captain, are one for sailboats, two for cabin cruisers, and three for yachts. ten employees are captains, and an additional 18 employees fill the various crew positions. currently, captain john has rental requests for all his boats: four sailboats, eight cabin cruisers, and three luxury yachts. if captain john's daily profit contribution is $50 for sailboats, $70 for cruisers, and $100 for luxury yachts, how many boats of each type should he rent?
Answers: 2
question
Business, 21.06.2019 22:10
Sarah needs to complete financial aid packets. during which school year would she do this? sophomore freshman senior junior
Answers: 2
question
Business, 22.06.2019 00:00
Which statement about the cost of the options is true? she would save $1,000 by choosing option b. she would save $5,650 by choosing option a. she would save $11,200 by choosing option b. she would save $11,300 by choosing option a.
Answers: 2
You know the right answer?
When playing roulette at a casino, a gambler is trying to decide whether to bet $15 on the number 11...
Questions
question
Spanish, 09.01.2021 07:10
question
Mathematics, 09.01.2021 07:10
question
Mathematics, 09.01.2021 07:10
question
Mathematics, 09.01.2021 07:10
question
Mathematics, 09.01.2021 07:10
Questions on the website: 13722363