omewor eworkld Fall2017MAT 103 Homework: NormalReviewHW Score: 0 of 1 pt 5.5.115
ID: 3329700 • Letter: O
Question
omewor eworkld Fall2017MAT 103 Homework: NormalReviewHW Score: 0 of 1 pt 5.5.115 1 of 11 (0 complete) HW Score: 0% 0 of 11 pts A roulette wheel contains 38 numbers (18 are red, 18 are black, and 2 are green) a. Find the expected value of the random variable X When the roulette wheel is spun, the ball is equally likely to land on any of the 38 numbers. Suppose that you bet $2 on black. If the ball lands on a black number, The expected value is -0.104 you win $2, otherwise you lose your $2. Let X be the amount you win on your $ bet. Then X is the random variable whose probability distrbution is as follows. b. Approximately how Question Hep much would you expect to losie f you bet $2 on bluack 100 times? 1000 times? If you bet S2 on black 100times you would expect to lose S 1040 If you bet S2 on black 1000 times you would expect to lose edia Libra P(X= x) Course ToolsExplanation / Answer
Expectd gain/loss = 2*0.474 - 2*0.526 = -0.104
If $2 is bet on black 100 time, expected loss = 0.104*100 = $10.4
More accurate calulations, ((18/38)*2 - (20/38)*2)*100 = 10.526
If $2 is bet on black 1000 time, expected loss = 0.104*1000 = $104
More accurate calulations, ((18/38)*2 - (20/38)*2)*1000 = 105.26
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