You do not need to know anything about the game of roulete to do thás Jeformatio

Question

You do not need to know anything about the game of roulete to do thás Jeformation needed to answer the problem is in the paragraph with the boild type All of the to place an $15 bet on red and a $S bet on the number 33 (which is black) on roulette wheel. ifthe ball lands If the ball lands on the number 33, he ifthe ball lands on a space that isn't red and isn't So for each spin; he e a standad 00 in a red space, he wins $15 on his 'red" bet but loses 55 on his 33 bet- so he wins $10 33 he loses both bets, so he loses S20. loses S15 on his 'red' bet but wins $175 on his -33" bet: He wins $160o either wins $160, wins $10, or losss $20. The probability that he wins S160 is 1/38 or 0263 probability that he wins $10 is 18/38 or 4737 The probability that he loses $20 is 19/38 or 5000 Let X - the profit that James makes on the next spin. a) Use the information from above to fill in the table below Note that one of the th ings that I wanted to show you with MAC14 is that the possble valesfor adis0 samva consecutive integers = b) What is the mean (also known as the expected value) of X? c) Explain what this "expected value" means in the 'real world' for this problem d) What is the standard deviation?

Explanation / Answer

Ans:

a)

b)Mean=-1.055

c)Expected value means the typical value of variable

d)Variance=920.65-(-1.055)^2=919.54

standard deviation=sqrt(919.54)=30.32

x p(x) x*p(x) x^2*p(x) 160 0.0263 4.208 673.28 10 0.4737 4.737 47.37 -20 0.5 -10 200 Total= 1 -1.055 920.65

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