One betting system for roulette is to bet ($ 1) on black. If black comes up on
Question:
One betting system for roulette is to bet \(\$ 1\) on black. If black comes up on the first spin of the wheel, you win \(\$ 1\) and the game is over. If black does not come up, double your bet \(\$ 2\). If you win, the game is over and your net winnings for two spins is still \$1 (show this). If black does not come up, double your bet again (\$4). If you win, the game is over and your net winnings for three spins is still \(\$ 1\) (show this). Continue in this doubling procedure until you eventually win; in every case your net winnings amount to \(\$ 1\) (show this). What is the fallacy with this betting system?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
First lets look at the winnings The game suggests to bet 1 then 2 then 4 and so on until you win On ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Sciences questions
-
Compare and contrast the following two betting schemes for roulette, which are sometimes used by gamblers. Double on each loss Bet \(\$ 1\) on black. If black comes up, you win \(\$ 1\), and the game...
-
In the early 1600s, Galileo was asked to explain the fact that, although the number of triples of integers from 1 to 6 with sum 9 is the same as the number of such triples with sum 10, when three...
-
The Labouchere system for roulette is played as follows. Write down a list of numbers, usually 1, 2, 3, 4. Bet the sum of the first and last, 1 + 4 = 5, on red. If you win, delete the first and last...
-
Estimate the moment of inertia of a bicycle wheel.
-
Students in the industrial statistics lab at ASU calculate a lot of confidence intervals on suppose all these CIs are independent of each other. Consider the next one thousand 95% confidence...
-
List 10 types of benefits that may be considered when approving a project.
-
How to prepare exhibits for trial?
-
A 0.2-m-wide plate, 0.8 m long, is placed on the bottom of a shallow tank. The plate is heated, and maintained at a constant surface temperature of 60°C. Liquid water 12 cm deep flows over the...
-
Common Stock (no-par, $3 stated value, 402,500 shares authorized, 355,500 shares issued) Paid-in Capital in Excess of Stated Value-Common Stock $1,066,500 1,121,500 Preferred Stock ($55 par value,...
-
"Last week I won a free Big Mac at McDonald's. I sure was lucky!" exclaimed Charlie. "Do you go there often?" asked Pat. "Only twenty or thirty times a month. And the odds of winning a Big Mac were...
-
The odds against winning a certain "Power Ball" lotto are 150 million to 1. Make up an example to help visualize these odds.
-
Dishwasher detergent is packaged in containers that claim a weight of 24 ounces. Although there is some variation from one package to another, your policy is to ensure that the mean weight for each...
-
Imagine, you have an opportunity to spend $1USD to plant a tree from every product (~$70USD) you sell. You need to prove/show consumers in a simple infographic that your activity is sustainable.
-
In what ways does the regulation of corporate securities differ from the regulation of other types of financial products? What regulatory philosophy underlies the regulation of corporate securities
-
Q3) Write the network model and 2 iterations of the network simplex for the following network. b1=3 b2=-1 3 b3=-1 1 b4=-1
-
Suppose a 10% 3years bond with a FV of $1000 Spot rates r1= 10%, r2= 12%, r3=13%. Calculate the forward rate required to calculate the bond price using the forward rate 1f2
-
What is the maximum price Cooper should be willing to pay for all of Nicholson's common stock? To answer this question, project Nicholson's free cash flows for the years 1972-1976 assuming a 6% per...
-
Find the energy of the electron in the n = 5 energy level of a hydrogen atom.
-
What are the principal alloying elements in SAE 4340 steel?
-
Suggest a good synthetic method for preparing each of the following haloalkanes from the corresponding alcohols. CH3 H3C CI I () CH-CH-CH,CI (b) CH;CH,CHCH,Br () (d) CH;CHCH(CH3)2
-
Suggest the best syntheses for each of the following ethers. Use alcohols or haloalkanes or both as your starting materials. () (b) () (d) () (f)
-
For each reaction in Problem 44, write out a detailed step-by-step mechanism. CI DMSO MP (a) CH;CH2CH,CI + CH;CH2CHCH,CH3 (b) CH3CH2CHO + CH3CH2HCH,CH3 H3C DMSO (CH:),CHOH (c) + CH3I (d) (CH3),CHO +...
-
A project plan for the revamp of the graduate program. The school started with an MBA with an emphasis on HR. The directors are having problems getting things started, and they are looking to you to...
-
Explain separately the following theories in relation to strategic management ( Giving references on each theory) Open Systems Theory Resource Based view Theory Stakeholder theory Tipple bottom line,
-
Omnichannel marketing is defined as the strategy of providing customers with information, products, services, and support through multiple synchronized distribution channels seamlessly. Consumers...
Study smarter with the SolutionInn App