Mathematics, 27.07.2021 07:30 mailani12503
WFind the expected winnings value of a bet of $456 where the casino has set the odds at 1 to 3 (You have to bet $3 to win $1 extra dollars) that the roulette outcome has no three in it. (the actual odds are 14 to 5, but the casino wants a more favorable expected value than zero dollars)
E(Winnings of the gambler of $ 456 on a bet that there is no 3 in the roulette number)= 456(1/3)P(win) - 456(P(lose))
=$
- $
= - $8.00 also known as a $8.00 expected loss. hich expression is equivalent to if no denominator equals zero?
Answers: 1
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WFind the expected winnings value of a bet of $456 where the casino has set the odds at 1 to 3 (You...
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