A modified roulette wheel has 32 slots. One is 0 and the other is 00, and the ot

Question

A modified roulette wheel has 32 slots. One is 0 and the other is 00, and the others are numbered 1-30 respectively. You are placing a bet that the out coke is an odd number. (In roulette , 0 and 00 are neither odd or even)
A modned roulehe wheel has 32 slots One is o, another is 00, and the others are numbered 1 through 30, respectively You are placing a bet that the outcome an odd number on roulene. 0 and 00 are nether odd nor even) a What is your probability of winning? The probability of winning is 0 6875 mype an integer or a simplied hadnon) b What are the actual odds against winning? The actual odds against winning are O c. When you bet that the outcome is an odd the payoff odds are 1:1. How much profit do you make ir you bet$13 and win? ir you win the payoff is s d. How much proft should you make on the s13 bet t you could somehow convince the casino to change payotodds sothat they are the same as the actual odds against winning? s (Round to the nearest cent as needed)

Explanation / Answer

odds against winning= P(winning)/(1-P(winning)) = 0.88235294117

payoff odds = 1:1 => profit per 1 dollar bet is 1, hence if we win 13$ bet , he will get 13$ as profit

Profit when odds agains winnning is equal to payoff ods then profit =13* 0.88235294117 = 11.4705882352

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