Page 4 Lecture 13: Basics of Probability Suppose you are playing roulette. If yo

Question

Page 4 Lecture 13: Basics of Probability Suppose you are playing roulette. If you bet on red, the probability of winning is 18/38 0.4737. The probability 0.4737 represents Supplemental Exercises 1. a. the fact that you're more likely to win betting on red than you are to lose. b the proportion of times this event will occur in a very long series of individual bets on red. c the fact that if you make 100 wagers on red, youll have 47 or 48 wins d. nothing important, since every spin of the wheel results in one of three outcomes (red, black, or green). 2. You decide to bet on red for each of 10 consecutive spins of the roulette wheel a. You should get more spins of red on the next 5 spins of the wheel, since we b. The wheel is not working properly. It favors outcomes that are not red. Hence, Suppose you lose all of the first 5 wagers. Which of the following is true? didn't get any on the first 5 spins. during the next five spins of the wheel, we're likely to continue to see few red outcomes. We're due for a win, so the sixth spin of the wheel is very likely to come up red. What happened on the first 5 spins tells us nothing about what will happen on the next 5 spins. c. d. 3. What does the missing value have to be for the probability model to be valid? Probability 25% 20% Browser Internet Explorer Firefox Chrome Safari Other 9% a. b. C. d. 100% 3% 97% 0%

Explanation / Answer

Ans:

1)Option b is correct.

2)Option d is correct.

3)To be valid probability model,

P(internet explorer)+P(firefox)+P(chrome)+P(safari)+P(others)=1

0.25+0.2+0.43+0.09+P(others)=1

0.97+P(others)=1

P(others)=1-0.97

P(others)=0.03 or 3%

Option b is correct.

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